Page 62 - BNE_magazine_04_2019

62 I New Europe in Numbers bne April 2019
Belarus GDP (y/y)
Belarus government forecasts GDP growth at 2.1% y/y in 2019, 2.5% y/y in 2020
The Belarusian government forecasts the nation's GDP growth at 2.1% year-on-year in 2019, 2.5% y/yin 2020, and 2.8% y/y in 2021, according to the cabinet's medium-term fiscal programme for 2019-2021 approved on March 6.
Belarus' GDP grew by 3% y/y in 2018, according to the national statistics agency Belstat. Belarus' GDP grew by 2.4% y/y in 2017 after two years of recession. It contracted 3.9% y/y in 2015 following 1.6% y/y growth
in 2014.
Turkish industry suffers fifth straight monthly decline
Turkey’s calendar-adjusted industrial production index contracted for a fifth consecutive month in January, data from national statistics office TUIK showed on March 14. However, the contraction of 7.3% y/y was lower than the revised 10% y/y recorded for December.
TUIK revised the index back to January 2015 for its latest data industrial output release. In response to growing criticism, on March 12 the statistics institute issued a written statement to explain why it used
a USD/TRY rate of 4.82 in its latest GDP data release.
Russia’s banking sector trebles profits in January y/y to $4bn
Russia’s banking sector is back in profit and earned RUB264bn ($4bn) in January, according to Central Bank of Russia (CBR) data released on February 28.
Earnings for the first month of the year came in at RUB264bn versus RUB71bn in January a year earlier and RUB114bn in the same month in 2017, which marked the start of the recovery from the crisis years of 2015-2016.
Russia's goods trade surplus up 20% in 2018 to $212bn
Russian customs reports that in 2018 the country’s goods trade surplus climbed to $212bn, or roughly 12% of GDP. Russia is now running
a triple surplus again for the first time in years: trade, current account and federal budget. Both the budget and the current account surpluses are at record levels. The record trade surplus was driven partly by the rise in oil prices in 2018, but falling imports, especially falling food imports, played at least as important a role.
Industrial production in Turkey
Russia bank profit RUB bn (monthly profits)
www.bne.eu