Belarus to revise approved budget and economic forecast - reports

The Belarus government will revise the official forecast of socio-economic development and budget for 2016. They will be overwritten depending on different oil prices and the exchange rate, tut.by reports referring to two informed sources.

A revision usually occurs in the spring. But this year, the forecast papers are far from reality already at the beginning of the year. As was previously reported, the average dollar rate was forecast at 18,650 rubles, and the price of oil - $50 per barrel. The GDP growth in the forecast of socio-economic development was planned at 0.3%.

Now the price of oil fell to 31 dollars per barrel, and the dollar has passed the barrier of 19 thousand rubles.

"The economic situation, particularly in Russia, has significantly changed since the beginning of the year. Further developments also seem far from rosy. The government and its economic experts are considering the different trends of the Belarusian economy for this year,"  said in a conversation with the portal tut.by an anonymous source.