Minsk (Interfax) - Belarusian GDP grew 3% year-on-year in January-February to 68.21 trillion Belarusian rubles (Br), the National Statistics Committee (Belstat) said.
Industrial production rose 6.3% and agricultural production grew 6.7%.
Capital investment slumped 13.3% in real terms.
The country’s real GDP grew by 5.3% in 2011 and measured Br274.282 trillion in current prices, compared to Br164.476 trillion in 2010, with a GDP deflator of 158.4%.
There was zero GDP growth in the fourth quarter of 2011, following a slowdown of growth to 1.9% in the third quarter from 11.4% in the second quarter and 10.9% in the first quarter.
Belarusian analysts forecast that the country’s GDP could contract by 2-5% in the first quarter of 2012, while the Economics Ministry is forecast first quarter economic growth of about 2.5%.
Belstat said inflation in Belarus was 3.5% in January-February, although it slowed to 1.5% in February alone, from 1.9% in January.
Inflation was 107.4% in annual terms in February.
Food prices went up 3.9% in the two months (1.6% in February), nonfood goods – 2.4% (0.8%) and services – 4.8% (2.9%).
Producer prices rose 4.2% in the two months, including 2.1% in February. Producer price inflation in annual terms was 147.4% in February.
Inflation soared to 108.7% in Belarus last year, from 9.9% in 2010, 10.1% in 2009 and 13.3% is 2008. The inflationary surge was driven by a two-thirds devaluation of the Belarusian ruble amid the country’s strong dependence on imports.
The government intends to keep inflation to within 19%-22% in 2012.
The official exchange rate for March 12 was Br8,160/$1.
