Express Analysis. July 2025
In the first half of 2025, GDP grew by 2.1% YoY, and in June separaterly – by ≈0.3% YoY. The volume of GDP (seasonally adjusted) declined by ≈1% compared to May 2025. Weak output dynamics were observed across all major…
2025
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The Consumer Confidence Index. July 2025
We present a new issue of the analytical bulletin “The Consumer Confidence Index” within the project Belarus Economy Monitor.
Inflation Review. Q2-2025
Inflation in Belarus increased in Q2-2025 and is moving toward the upper bound of the 7–9% YoY forecast range for the end of 2025. Annual inflation stood at 7.3% YoY in June 2025. The annualized quarterly price growth rose to…
Express Analysis. June 2025
Economic activity in Belarus remained near its historical peak in May 2025, significantly exceeding its balanced level. Over the five months of 2025, GDP grew by 2.5% YoY, and in May separaterly – by ≈1.3% YoY. The volume of GDP…
Labor Market and Social Sphere Q1-2025
We present the new study “Labour market and social sphere”
Express Analysis. May 2025
The Belarusian economy continued to grow due to domestic demand in April 2025. Over the four months of 2025, GDP grew by 2.8% YoY, and in April separaterly – by ≈2% YoY. GDP volume (seasonally adjusted) increased by 0.1–0.3% compared…
Macroeconomic forecast for Belarus. 2025–2026
Monetary policy loosening will support increased GDP growth in Belarus in 2025, but at the cost of heightened inflationary pressure and a greater risk of economic volatility if external conditions deteriorate. The GDP growth forecast for Belarus in 2025 has…
The Consumer Confidence Index. May 2025
The consumer confidence index in Belarus remained in the positive zone: it stood at 1% according to the Rosstat methodology and 2% based on the Eurostat methodology.
Monetary Environment Review Q1-2025
Monetary conditions were neutral in Q1-2025, but monetary policy became resistant to tightening Interest rates on loans and deposits exceeded their neutral levels in Q1-2025.However, the extent of this excess was modest and, amid strong domestic demand, the contractionary impact…