OREANDA-NEWS. The European Bank for Reconstruction and Development (EBRD) has downgraded its forecast for Belarus' GDP growth in 2014 from 2.5% to 1%, the bank said in its report “Regional Economic Prospects in EBRD countries: January 2014”.

The bank points out that Belarus can improve its GDP growth forecast in 2014 by optimizing trade with Russia and by means of sustaining ruble devaluation at a moderate level.

The EBRD expects Belarus' consumer price index to grow 14.5% year on year in 2014.