Belarus' GDP is expected to increase by 1.1-1.3% in H1 2014 as it was projected, Economy Minister of Belarus Nikolai Snopkov said at a session of the Council of Ministers on 20 May, BelTA has learnt.

Nikolai Snopkov drew attention to the fact that industrial output grew for the first time since January 2013. In March 2014 the industrial output increased by 0.7% compared to the same period in 2013. This trend remained in place in April. The Economy Minister emphasized the positive dynamics, but admitted that the industrial output over the first four months of 2014 could not catch up with the output of the same period in 2013.

The Economy Ministry believes that the manufacturing industry will maintain momentum in H1 and the industrial production index will inch up by 1.1 percentage points. “The major factors are stabilization of the potash market and signing of the oil balance that envisages the increase in crude oil supplies by 8%,” Nikolai Snopkov said.

Speaking about the overseas trade, the Economy Minister noted that the trade surplus is projected at $825 million or 2.2% of GDP.



 

BelTA