Macro - Country Economic Forecasts - Belarus

Macro - Country Economic Forecasts - Belarus



We've raised our GDP growth forecasts for Belarus, by 1.4ppts to 3.6% y/y for 2024 and by 0.5ppts to 2.0% y/y for 2025. Our revisions reflect an upside surprise in domestic demand and increased exports. Strong momentum in private consumption, owing to rising incomes, supported GDP growth this year. But we expect this trend will moderate over the medium term as political risks weigh on the economy.


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