Изображение: ЕАБР
Analysts at the Eurasian Development Bank expect Belarus’s GDP growth rate to accelerate by the end of the year. Last week, Belstat reported that the country’s gross domestic product grew by 1.5% in January–October, 0.1 percentage points lower than the growth rate for the first nine months.
“Consumer and investment activity continue to support economic expansion. Retail turnover increased by 7.7% year-on-year in January–October (after 8.2% year-on-year in January–September). Expansion of fixed-capital investment reached 13.2% year-on-year (after 15.3% year-on-year). Agricultural output recovered to the level of January–October 2024. Industrial production continues to decline amid cooling demand from Russia (-1.3% year-on-year),” the bank’s weekly review of member-state economies said.
At the same time, the bank expects Belarus’s full-year GDP growth to exceed the current figure.
“At the same time, we expect economic growth to remain strong in 2025. Owing to elevated domestic demand, we expect higher growth rates for the full year 2025,” the review said.
In its June macroeconomic forecast, the EDB raised its estimate for Belarus’s GDP growth this year to 3%.