Non-restrictive monetary conditions and an increase in fiscal stimulus provided significant support to domestic demand in Q2-2026 The National Bank cut key rates by 0.5 p.p. in Q2-2026 and did not withdraw excess bank liquidity at auctions in order to…
Inflation in Belarus remained low in Q2-2026, but the easing of price controls from July will lead to its moderate increase by year-end Annual inflation slowed from 5.4% YoY in March to 4.3% YoY in June 2026, while the annualized…
Belarus’s GDP grew by 3% YoY in Q2-2026 Over the half-year, GDP grew by 1.5% YoY, and in June alone by ≈3.5% YoY. Compared to May 2026, output edged slightly downward (seasonally adjusted). However, thanks to strong dynamics in the…
Belarus’s economy will grow at a moderate pace in the medium term, provided that external conditions do not deteriorate significantly GDP will grow by 1.5–2.5% and exceed $100 bn in 2026. The economy accelerated to ≈3% YoY in Q2-2026 (after…
Belarus’s GDP reached a new all-time high in May 2026 In January – May 2026, GDP grew by 0.9% YoY, while in May alone it increased by ≈3.7% YoY. Compared to April 2026, output rose by more than 1% and…
Key characteristics of the labour market in Q1-2026 – The number of people employed in the economy increased by 0.1% over the quarter. The number of new jobs increased by 13.2% compared to Q4-2025 in seasonally adjusted terms. – Increases…
Belarus’s GDP returned to peak levels in April 2026 In January – April 2026, GDP grew by 0.2% YoY, while in April alone it increased by ≈1.8% YoY. Compared to March 2026, output rose by ≈0.6% (seasonally adjusted). The recovery…
The consumer confidence index in Q2-2026 decreased by 1 p.p. (Rosstat methodology) and stood at -2.2%. The consumer confidence index excluding the current economic situation component (Eurostat methodology) stood at -1.1%, while the EU average in April 2026 was lower at -19.4%.
Economic activity in Belarus showed restrained dynamics in Q1-2026, while GDP growth for the full year is projected to be around 1% – Belarus’s GDP declined by 0.4% in Q1-2026 compared to Q1-2025 after growing by 0.3% YoY in the…