Economic activity in Belarus remained subdued in February 2026 GDP increased by ≈0.4% in February compared to January 2026 (seasonally adjusted). Growth was supported by an increase in investment, which was of a corrective nature after weak results in Q4-2025…
The consumer confidence index in Q1-2026 increased by 3.5 p.p. (according to Rosstat methodology) and amounted to -1.2%. Excluding the current economic conditions component (Eurostat methodology), the index amounted to -0.2%.
Key characteristics of the labour market in Q4-2025.
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…
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 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 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…
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…
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…
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…