EDB raises Belarus' GDP growth forecast in 2023

The Eurasian Development Bank believes that Belarus' GDP growth will amount to 2.2% according to the results of the current year. However, in 2024 and 2025, annual GDP growth will decrease to 1%, Sputnik reported.

The forecast of accelerated GDP growth is based on data on the growth of the economy of Belarus' main trading partner, Russia.

At the same time, Belarus' economic growth continues to be hampered by increased uncertainty and difficulties in the supply of intermediate and investment products, as well as limited access to new technologies. For this reason, GDP growth in 2022-2025 is expected to be at the level of 1%.

EDB analysts believe that inflation in the republic this year will be at the level of 7.8%, in 2024 it will increase to 8.2%.

According to official data, the expenses of the residents of Belarus for living account for 90% of income.

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