We raised our GDP growth forecast for Belarus by 0.4ppts to 2.4% y/y for 2025 from 2% y/y. Our revisions reflect continuing momentum in domestic demand, exports, and private consumption. This trend is set to moderate as exports slow in H2 as Russian import-substitution weighs on exports from Belarus to its key market. Political risks continue to weigh on the economy, though their severity has waned following the relatively smooth re-election of President Alexander Lukashenko and the tentative US-Russian talks about Ukraine.
- Please Note: Due to the brevity and/or nature of the content posted, there is no table of contents available for this report.
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook