EDB: Belarus will maintain high economic growth in 2025

According to the outlook by the Eurasian Development Bank, Belarus will maintain high economic growth rates in 2025, said Marina Sobolevskaya. Head of the Center for Country Analysis of the Analytical Work Directorate,at the EDB, BelTA reports.

The EDB expects Belarus' economy to expand by 4.3% in 2024, beating the previous figure. “We forecast that the country will maintain high growth pace next year. We estimate that Belarus' GDP will grow by 2.6% in 2025. The key growth drivers would be stronger demand from Russia, growth of household incomes and expansion of investment,” Marina Sobolevskaya noted.

As for inflation, the EDB estimates that in 2024 it will hover around the 6% target. Next year, the bank forecasts a moderate increase in inflation to 6.6%. 

“We expect the Belarusian National Bank of to keep the refinancing rate at the current level of 9.5% per annum,” Marina Sobolevskaya added.

According to the National Statistics Committee, the GDP of Belarus went up by 4.2% in January-October of this year. The growth in 2024 is expected to arrive at 3.8%. So the economy is growing at a rate above the forecast and the global average. In 2025 the GDP is forecast to expand by 4.1% and inflation under 5%.

The Eurasian Development Bank has published its Macroeconomic Outlook for six member states for 2025-2027. 

Source