{"id":534688,"date":"2026-04-18T08:49:41","date_gmt":"2026-04-18T05:49:41","guid":{"rendered":"https:\/\/reform.news\/?p=534688"},"modified":"2026-04-18T11:36:10","modified_gmt":"2026-04-18T08:36:10","slug":"belarusian-government-included-faster-gdp-growth-in-medium-term-financial-program","status":"publish","type":"post","link":"https:\/\/reform.news\/en\/belarusian-government-included-faster-gdp-growth-in-medium-term-financial-program","title":{"rendered":"Belarusian Government Included Faster GDP Growth in Medium-Term Financial Program"},"content":{"rendered":"
<\/div>\n

Today, the National Legal Internet Portal published Resolution<\/a> No. 189 of the Council of Ministers of Belarus dated April 16, approving the medium-term financial program of the republican budget for 2026\u20132028.<\/p>\n

According to the resolution, the tax burden on the Belarusian economy should remain at no more than 26% of GDP. At the same time, the government wants to achieve a balanced budget in 2027 and a surplus republican budget in 2028.<\/p>\n

The program also includes faster GDP growth. While GDP is expected to grow by 2.8% in 2026, the growth rate is projected to increase to 2.9% in 2027 and 3% in 2028. At the same time, Belarusian GDP fell by 0.4% in the first quarter of 2026.<\/p>\n

The program envisions a further slowdown in inflation. Annual price growth may amount to 6.3% in 2026, 6% in 2027, and fall to 5% in 2028.<\/p>\n

The refinancing rate ranges included in the program allow for different scenarios but still point toward a gradual decrease in the rate. The average refinancing rate range for this year is set at 9.4\u201310.7% annually, for next year at 8.8\u201311%, and for 2028 at 8.3\u201311%.<\/p>\n

Export growth is expected to slow from 3.7% this year to 3.5% in 2028, while imports of goods are expected to increase: by 1.5% this year, 2.8% next year, and 3% in 2028.<\/p>\n

Some of the program\u2019s parameters remain classified as \u201cfor official use only.\u201d<\/p>\n

The ratio of public debt to GDP is expected to decline from 26.1% to 22.8%.<\/p>\n

The program provides for growth in almost all categories of republican budget expenditures. In particular, spending is expected to rise:<\/p>\n