Investments in Belarusian economy plunge by quarter in May – Eurasian bank

June 27, BPN. Investments in the Belarusian economy shrunk by 25% in annual terms last May, the Eurasian Development Bank (EDB) said in a weekly analytical review.

Belarus’ GDP fell by 8.8% in May and 6.5% in April, it added.

EDB analysts stressed that sanctions and disrupted supply chains led to a drop in the output of the manufacturing industry (-11.8%), wholesale trade (-25.4%) and freight turnover (-33.6%).

“In May, GDP was supported by the continued growth of the IT sector. A temporary mitigation of the economic downturn was also facilitated by an increase in inventories. In the coming months, economic activity may continue to decline due to weakening consumer and investment demand and decreasing export supplies. The baseline forecast for Belarusian GDP is a 6.5% decrease in 2022,” the EDB said.