Agriculture was main driver of Belarus’ GDP growth in July 2014
The National Statistics Committee reported that in July 2014 GDP grew by 1.6% (0.4% more compared with GDP growth in H1 2014).
In July, the GDP grew mainly thanks to agriculture: higher grain yields and earlier start of harvesting. The GDP dynamics will persist until harvesting ends. Belarus will lower her demand for grain imports and banks will issue more loans to agricultural enterprises. Belarusian agriculture’s main fears are about ASF re-emerging – numerous ASF outbreaks have been reported near the Belarusian borders. As a result, pig livestock might be reduced affecting agriculture’s performance results in 2014.