Belarus Economic Growth: Drivers, Sectors, and EDB Forecasts

tania August 24, 2026 9:43 Belarus Economic Growth: Acceleration to 2.1% in January-July

In January-July 2026, Belarus's economic growth reached 2.1% year-on-year, up from 1.5% in January-June. Analysts at the Eurasian Development Bank primarily explained the reasons behind this surge. Thus, the main factor behind the acceleration was agriculture.

Economic Growth: Drivers and Sectors

Agricultural output grew by 12.9% year-on-year, compared to 4.7% in the first half of the year. This was driven by an earlier harvest. In addition, after a 0.7% decline, industrial output increased by 0.1%. This was due to strong domestic consumer and investment activity, as well as expanded demand for fuel in Russia.

Retail turnover grew by 8.1% year-on-year, while investments rose by 4% in January-July. Moreover, the value added of the "Information and Communication" sector grew by 4.9% amid an increase in orders.

Construction Recovery

At the same time, construction continues to recover. Abnormally low winter temperatures had hurt performance. However, the volume of contract work has now grown by 2.3% year-on-year in January-July.

Analysts believe that in the absence of new shocks, Belarus's economic growth could exceed the EDB forecast (+1.3%) and amount to more than 2% by the end of 2026.

Source: Tochka

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