Analysts at the Eurasian Development Bank expect an improvement in Belarus’ GDP dynamics, driven by sustained consumer demand and an anticipated recovery in construction.
Last week, the National Statistical Committee reported a 1.2% decline in Belarus’ GDP in January–February. In January, GDP was also down 1.2% compared to the same period last year.
The EDB identified the main reason for the decline as a slowdown in industry amid weakening external demand.
“Additional pressure came from unfavourable weather conditions, which led to a decline in construction activity and investment (–7.1% year-on-year). At the same time, the economy is supported by agriculture (+2.8% year-on-year), as well as rising consumption: retail trade increased by 1.2% year-on-year amid growing household incomes (+7.5% year-on-year in January 2026),” the bank said in its weekly review of member economies.
“The expected recovery in construction and continued consumer demand create the conditions for an improvement in GDP dynamics,” the Eurasian Development Bank concluded.
