Labour Market and Social Sphere Q4-2025
Key characteristics of the labour market in Q4-2025.
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Express Analysis. February 2026
Temporary factors led to a decline in Belarus’ GDP at the beginning of 2026, but even excluding them economic activity dynamics were subdued and growth potential remained low In January 2026, GDP declined by 1.25% compared with January 2025 and…
Macroeconomic results for 2025
Imbalances in the Belarusian economy declined by the end of 2025, but its growth potential remained low Belarus’s GDP growth slowed to 0.3% YoY in Q4-2025, while overall the economy grew by 1.3% YoY in 2025 – three times lower…
Monetary Environment Review Q4-2025
Monetary policy in Belarus remained non-restrictive for the growth of domestic demand and consumer prices in 2025 The National Bank actively carried out non-sterilized issuance through purchases of foreign currency and government bonds. The banking system operated in a state…
Inflation Review. Q4-2025
Inflation in Belarus amounted to 6.8% in 2025 and is projected to be close to 7% by the end of 2026 Annual inflation declined from 7.1% YoY in September to 6.8% YoY in December 2025. The annualized quarterly price growth…
Express Analysis. January 2026
Belarus’s economy grew by 1.3% in 2025, while the scale of its overheating declined significantly In Q4-2025, GDP increased by ≈0.4% compared with Q4-2024, following the growth of 0.8% YoY in the previous quarter. This corresponds to the seasonally adjusted…
Macroeconomic forecast for Belarus 2026
The economy will return to a balanced growth trajectory in 2026–2027 after overheating in 2024–2025 GDP growth will slow from around 4% in 2023–2024 to about 1.1% in 2025 and 0.5–1.5% in 2026. The slowdown of the Russian economy and…
Express Analysis. December 2025
Belarus’s GDP continued to decline in November 2025, and the extent of economic overheating narrowed sharply For the eleven months of 2025, GDP grew by 1.3% YoY, and in November alone it declined by ≈0.6% YoY. Industrial output fell to…
The Consumer Confidence Index. November 2025
We present a new issue of the analytical bulletin “The Consumer Confidence Index” within the project Belarus Economy Monitor.
Labour Market and Social Sphere Q3-2025
The bulletin “Labour Market and Social Sphere” provides an overview of developments in the labour market and the social sector in Belarus.