EDB: GDP of Belarus to grow by 0.7% in 2022

Experts of the Eurasian Development Bank have published a new forecast for the development prospects of the economies of the EDB member countries. According to their estimates, GDP growth in these countries will be 4% in 2021 and 2.9% in 2022.

At the same time, “the growth rate of the potential GDP of Belarus in the medium term is about 1% per year,” says the new macro forecast for the economies of the EDB member countries. The Belarusian economy, according to the bank’s experts, will grow by 2.1% at the end of 2021 and by 0.7% at the end of 2022.

The EDB experts explained the deterioration of their October forecast for Belarus (2.5% of GDP growth this year) by several factors: weakening external demand for Belarusian exports, increased Western sanctions, as well as limited domestic demand, while the monetary policy of the Belarusian leadership left much to be desired. Against this background, the exchange rate of the Belarusian ruble is decreasing and inflation is growing.

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