wiiw Forecast Reports

BELARUS: Recovery gathering pace, but the future remains uncertain


Rumen Dobrinsky

in: Beneath the Veneer of Calm
wiiw Forecast Report No. Autumn 2023, October 2023 , pp. 52-55

In 2023, Belarus’s economy has performed considerably better than expected. While this largely reflects recovery from a low base, there have also been signs of adjustment to the effects of Western sanctions. With Russia’s assistance, Belarus has remodelled some logistical export chains. The authorities have maintained an accommodative policy stance, combining fiscal stimulus with monetary easing. We expect GDP to grow by 3.0% in 2023, and then to moderate to 2.2% and 2.5% in 2024 and 2025, respectively.


Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database

Countries covered: Belarus