Chief Economist of the European Bank for Reconstruction and Development Erik Berglof doubts that the financial assistance of the CIS and Russia would be sufficient to solve economic problems in Belarus. He stated this on May 20 during the press conference in the Kazakh capital Astana at the EBRD annual meeting.
«We’re, of course, closely watching what is happening in Belarus. The demand for funds from abroad is clear to be significant. I’ve learned before coming here that the CIS and Russia promised to provide part of their financing. I do not know whether these funds will be enough for Belarus,» he said, RIA «Novosti» news agency.
«Belarus has suffered from the crisis and it needs additional funds for economic development. But it would be illusory to believe that an infusion of additional funds into the economy of Belarus will change its fundamental problems,» says the EBRD chief economist.
«We need to fundamentally change the approach to the economy, as well as the whole political system. There is a serious problem,» he stressed.
EBRD Downgraded GDP Growth Forecast in Belarus in 2011
The European Bank for Reconstruction and Development 1% downgraded GDP growth forecast of Belarus for 2011.
According to the May forecast of the Bank, this year’s economic growth of Belarus is 3.0%, whereas it was estimated at 4.0% in January, AFN.
In 2012, according to EBRD estimates, Belarus’ GDP will grow by 3.5%.
