MOSCOW, 18 July (BelTA) – Belarus continues to demonstrate economic stability, its indicators show positive momentum, Konstantin Laykam, Chairman of the Interstate Statistical Committee of the CIS, told BelTA.
At the CIS Economic Council meeting held in Moscow on 18 July, Konstantin Laykam presented data on the key macroeconomic targets for the CIS member states in 2024.
“Overall, the CIS countries recorded a solid GDP growth of 4.5% in comparable prices. Belarus also showed a strong pace: an increase by 4%,” he stated.
Konstantin Laykam also mentioned the recent World Bank ranking of countries based on GDP per capita, taking into account purchasing power parity: “Most of our [CIS] countries have strengthened their positions. Russia secured fourth place globally, and Belarus also improved its ranking. In fact, nearly all countries, except Moldova, have either maintained or significantly enhanced their rankings. This reflects a positive trend,” he noted.
According to Konstantin Laykam, Belarus is showing strong momentum in investment performance, which he described as a foundation for future growth.
“Belarus has a relatively low inflation rate, around 5%. That may be higher than desired, but it’s still lower than the average for the CIS, which is about 8.5%,” he added. “Inflation dynamics across the CIS are quite serious and vary greatly from country to country.”
Konstantin Laykam also noted that unemployment continues to decline, with the average in the CIS reaching an unprecedented low of 3.4%. “In Belarus, it stands at 3%, and in Russia - at 2.5%, both of which are historic lows,” he emphasized.
He added that Belarus holds a leading position in trade with the CIS countries, with nearly two-thirds of its total trade conducted within the CIS. “The CIS’s potential is far from being exhausted: we can expect to see further results,” Konstantin Laykam concluded.
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