Belarus Plans To Attract $1.4bn in FDI in 2017

citic_group_20072016_tutby_brush_phsl_img_-9524In 2017 Belarus is set to attract $1.4 billion in foreign direct investment on a net basis (excluding direct debt to investors for goods, works, services), according to the decree on Belarus’ social and economic development targets for 2017.

The document approves the quarterly parameters of the key performance indicators for the government and the National Bank, heads of the government bodies, regional administrations and Minsk city administratio, BelTA reports.

The decree expects the GDP dynamics to turn positive in 2017 (1.7% as against 2016) and export to show strength of 3.8%.

The projected growth of labor productivity of 1.8% is expected to surpass that of wages (1.5%) and real disposable money incomes (1.3%). Balance of foreign trade in goods and services is projected at 0.1%, while consumer price index shall not exceed 9%.

The document also states that ministries should work to boost exports, and all of the regions of Belarus are expected to contribute to the growth of the gross regional product.

In contast to those optimistic expectations, international experts forecast that the economy of Belarus is not going to grow in 2017. According to the World Bank, the recovery is not expected until 2018 and the GDP will go down by 0.9% next year.