Belarus cuts 2015 economic growth forecast

Belarus has cut its 2015 economic growth forecast to 0.2-0.7 percent from the previous 2.0 percent because of the economic slowdown in Russia, state news agency Belta quoted Economy Minister Nikolai Snopkov as saying. In recent years, Belarus has received tens of billions of dollars in loans and rebates for energy prices from Russia, hit this year by a fall in global oil price and Western sanctions over the Ukraine crisis.
"Everyone should understand that all governments are in a difficult situation," Snopkov told a government meeting in the capital Minsk on Saturday. "They, even friendly ones, can't deal with others' problems. We have to resolve all these questions and tasks ourselves." The Belarussian government also cut its 2015 oil price forecast to $83 per barrel from $100 per barrel.