Industry, agriculture driving Belarus’ economic growth in May – EDB

June 26, BPN. Belarus’ economy grew by seven percent in May year on year, the Eurasian Development Bank (EDB) said in its recent weekly macroeconomic report.

The analysts linked the surge to recovery in industry and agriculture which grew 4.1 and 5.4 percent, respectively, in the first five months of 2023.

Wholesale trade rose 3.4 percent; retail trade, 2.9 percent; and investments, 2.5 percent after a 2.4 percent drop, the EDB added.

The analysts reaffirmed their baseline forecast for GDP growth by 2.2 percent in 2023.

Belarus’ GDP rose 0.9 percent from January to May year on year, reaching 79 billion rubels (over $30 billion), according to the National Statistical Committee (Belstat).