Belarus Economic Outlook
January 11, 2022
Following soft growth in Q3, the economy continued to lose steam in Q4: GDP growth fell in cumulative terms in November, with transportation and domestic trade recording weaker expansions. Moreover, the agricultural sector receded in cumulative terms in January–November. Meanwhile, a sluggish manufacturing subsector caused industrial production to fall in October, although output rebounded in November, despite a less favorable base. More positively, electricity production increased markedly in the first two months of Q4. Meanwhile, despite the mounting sanctions, exports to the EU have grown consistently since August 2020 without any sign of deterioration, suggesting the measures have had a limited impact. In other news, in its budget plan for 2022, the government sees spending at BYN 30.9 billion, including a reserved BYN 900 million for spending on wages or investment to respond to possible risks.Belarus Economic Growth
GDP growth is seen losing pace in 2022, as the base effect turns less favorable. That said, continued support from Russia should provide some relief. Moreover, the planned commissioning of a second unit at the Astravets nuclear power plant by summer this year should boost industrial output. Additional sanctions, political instability and regional tensions cloud the outlook. FocusEconomics panelists project the economy to expand 1.4% in 2022, which is down 0.1 percentage points from last month’s estimate. In 2023, the economy is expected to grow 1.7%.Belarus Economy Data
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Belarus Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 2.10 | -0.36 % | Dec 31 |
| Stock Market | 0.1 | 0.0 % | Jan 07 |
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Belarus Economic News
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Belarus: Industrial output rises at quickest pace in six months in December
January 17, 2022
Industrial output increased 4.3% in year-on-year terms in December, which was above November's 2.7% increase.
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Belarus: Inflation falls in December
January 13, 2022
Consumer prices rose 0.87% over the previous month in December, accelerating from November's 0.51% rise.
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Belarus: Inflation falls in December
January 12, 2022
Consumer prices rose 0.87% over the previous month in December, accelerating from November's 0.51% rise.
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Belarus: Industrial output rebounds in November
December 16, 2021
Industrial output increased 2.7% compared to the same month of the previous year in November, which contrasted October's 0.1% decrease.
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Belarus: Inflation ebbs slightly in November
December 10, 2021
Consumer prices rose 0.51% over the previous month in November, which was below October's 0.89% increase.
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