MINSK, 30 April (BelTA) – In Q1 2025, GDP in Belarus grew 3.1% against the forecast of 2.7%, Belarusian First Deputy Economy Minister Andrei Kartun said in an interview to First New TV Channel, BelTA has learned.
The key growth drivers were construction (up 15.6%), manufacturing sector (2%), IT (6.1%) and trade (3.3%). “The start is a relatively strong - 0.4% ahead of the forecast,” Andrei Kartun said.
Construction sector was the largest contributed to the growth in GDP. “The growth rate of 115.6% with a contribution of almost 8% is significant figure,” the first deputy minister emphasized.
The plan for housing construction was overfulfilled, with over 900,000 square meters commissioned, showing the growth of 118%. Organizations have been actively involved in the work since January. All necessary decisions have been promptly taken. Road construction showed the growth of 122%.
The manufacturing sector has also demonstrated steady growth. Compared to last year, the dynamics is lower against the background of the high figures of 2024, but the pace began to accelerate in March.
The IT sector has been recovering since H2 2024. According to Andrei Kartun, in its record-high times the IT sector’s contribution to GDP exceeded 7%. Now it is about 3%. “It has become a little higher, but there is still room to grow,” the first deputy minister said. According to him, the progress in the sector has been made not only thanks to the regulatory measures. There are positive trends within the sector. The IT-sector saw an increase in the number of employees. The number of specialists who joined the sector last year amounted to 1,500 people.
“Given the measures taken to unwind domestic demand for IT products, including by the state, the IT industry has every chance to become, as it was a few years ago, the main driver of economic growth,” the first deputy minister said.
According to him, it can be stated with confidence that HTP residents “have adapted to the conditions following 2022”. If before 2022 the main export markets were the EU countries and the USA, now these are the CIS countries. There has been a three-time growth in the demand from the CIS and Asian countries and a significant drop in the demand from the EU and the USA. “We are ready to work and fulfill orders from any country, but sanctions restrictions force our IT companies, including HTP residents, to look for alternative ways. They are finding them,” said Andrei Kartun.
In his words, earlier representatives of the IT sector noted that there was no big domestic demand for IT products and services in Belarus. “The domestic demand has been formed and is growing fast enough,” said Andrei Kartun. Belarus intends to actively develop the digital economy and sets a goal to reach the contribution of the IT sector to GDP of more than 7.5% in a few years, he added.
Speaking about further forecasts, Andrei Kartun did not rule out that the pace may slow down a bit in Q2 and Q3, but in general the economy should reach the target benchmark, if nothing prevents it. “We do not plan to slow down. We will address issues in foreign markets. I hope that at least we will fulfill the target benchmark for this year,” the first deputy minister said.
He also noted that GDP growth influences household incomes. The inflation rate remains low (under 6%).
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