The Belarusian economy grew 9% in 2005, the most considerable expansion in the CIS following Azerbaijan and Kazakhstan, which performed better than Belarus owing to production of energy resources and investments in extractive industries.
The data were released by Belarus’ Ministry of Foreign Affairs with reference to the report of UN Under-Secretary-General for Economic and Social Affairs Josй Antonio Ocampo to the UN Commission for Social Development in New York on February 7–10.
The report covers the results of the world economic development in 2005, analyzes the current trends and provides a forecast for 2006. According to UN specialists, growth in developing countries outstripped the economic expansion of developed countries in 2005.
According to Josй Antonio Ocampo, economies in transit will grow, on average, at a rate of 5.9% in 2006.
UN specialists forecast Belarus’ economic expansion at 9% in 2006, while the economies of Russia and Ukraine are expected to grow 5.8% and 5%, respectively.
High Growth Rate
UN says Belarus ranks third in CIS in terms of economic expansion