Monetary conditions remained non-restrictive in Q1-2026 and are expected to be moderately accommodative in the second half of the year The National Bank maintained its focus on stimulating economic activity at the beginning of the current year and relied on…
Inflation in Belarus decreased in Q1-2026 and is projected to be around 6–7% YoY by the end of 2026 Annual inflation slowed from 6.8% YoY in December 2025 to 5.4% YoY in March 2026, while the annualized quarterly price growth…
The Belarusian economy expanded noticeably in March 2026, but overall showed subdued output dynamics in Q1-2026 In March 2026, Belarus’s GDP increased by more than 1% compared to February. As a result, GDP exceeded the level of March 2025 by…
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%.
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…
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…