Page 11 - bne IntelliNews Country Report: Belarus Dec17

3.2 Macro outlook
The outlook for Belarus' GDP growth rate in 2017 was improved to 1.8% in the quarterly Macroeconomic Review published by the Chief Economist Group at the Eurasian Development Bank (EDB ), BelTA has learned. The paper states that, as a result of improvements in regional economic growth and mutual trade, the outlook for the EDB member states' GDP growth rates in 2017 has been revised. For Russia, a significant increase in GDP growth rates since Q2 2017 and an improved foreign and domestic macroeconomic situation resulted in an upgrade of its outlook for GDP growth in 2017 from 1.4% to 1.7%. If the foreign environment continues to be the same or advances further for the Russian economy, the balance of risks is expected to shift towards greater growth rates. Improvements in Russia's dynamics also add impetus to other EDB member countries: the outlooks for GDP growth in 2017 were upgraded for Belarus (from 1.4% to 1.8%), Kyrgyzstan (from 3.7% to 4%), Tajikistan (from 6.2% to 7.2%), and Kazakhstan (from 3.4% to 3.7%).
Selected macroeconomic indicators 2015-2017
2015 2016* 2017*
Real GDP growth, % yoy -3.9 -2.8 -0.9
Nominal GDP, $ bn 54.8 46.5 46.2
Inflation, % yoy (annual average) 13.5 11.8 10.5
Current account balance, % of GDP -3.8 -5.7 -5.7
External debt, % of GDP 72.5 89.2 95
Source: Belstat, National Bank of Belarus
*GET estimation/forecast
11 BELARUS Country Report December 2017 www.intellinews.com