MINSK, 15 January (BelTA) - Analysts from the Eurasian Development Bank (EDB) predict an acceleration in Belarus’ economic growth, BelTA reports with reference to a macroeconomic forecast posted on the bank’s website.
“The Belarusian economy will continue to grow driven by domestic demand against the backdrop of high wage growth and the implementation of state-supported investment projects,” the macroeconomic forecast reads.
EDB analysts forecast GDP growth of 1.8% in 2026 (the same as in the current year), under conditions of sustained high growth in household incomes, government measures to stimulate investment, expansion of the IT sector, and restrained external demand for Belarusian products. Further, economic development is expected to accelerate.
Inflation is anticipated to remain around the updated target of 7%, amid high consumer activity, depreciation of the national currency, imported price pressure from Russia, and the use of prudential measures by the National Bank of the Republic of Belarus to cool consumption.
The refinancing rate is forecast to be 9.75% to maintain economic growth and curb inflation, while the average annual Belarusian ruble exchange rate is projected at Br 3.32 per U.S. dollar. This rate reflects factors such as expanding imports, the weakening currency of Russia (the key trade partner), growth in service exports, and the population’s ongoing net sales of foreign currency.
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