Expert: GDP growth forecast was like a stimulus for 3 years


The government in Belarus today has changed its GDP growth forecast for 2014, decreasing it from 9.6 to 5.7 per cent.

Siarhei Chaly: "9.5% was a completely unrealistic figure. Even this year’s 8.5% is not realistic. The discrepancy between the reality and desire has become obscene. That is why they have tried to make the forecast more realistic."

By the way, the economist does not think that the new figure (5.7%) is realistic either.

Chaly: "Traditionally, our forecast reflects our desires instead of our real expectations… ‘It may happen if we are really lucky,’ Minster of Economy Snapkou said once."

The expert compared the indices to the late Soviet epoch. Forecasts were overrated so that the result could at least reach half of the target.