Economy Ministry: in first two months of 2025, Belarus’ economy grew within target trajectory

In the first two months of 2025, the Belarusian economy grew within the target trajectory – as stated by First Deputy Economy Minister Andrei Kartun, commenting on the dynamics of the main indicators of the country’s socio-economic development in January-February

According to Mr. Kartun, three of the most important quarterly plans were overfulfilled.

“The GDP growth rate was 103.1 percent against the Q1 target of 102.7 percent. The main drivers are construction (113.4 percent), trade (104 percent) and transport (102.7 percent). The growth trend in the IT sector continues, and high rates remain in industry at 102 percent,” First Deputy Economy Minister noted.

According to him, investments in fixed assets grew by 17.2 percent, while the plan was 102.3 percent. At the same time, spending on machinery and equipment showed even greater dynamism (up 25.1 percent).

“And the third is the level of the population’s incomes. In January, they increased by 13.8 percent in real terms. From February 1st, 2025, labour pensions have been increased by 10 percent,” the official emphasised.

Mr. Kartun also shared his opinion on the prospects for growth in agriculture and industry, commented on the effectiveness of measures to keep inflation in the forecast range, and spoke about the prospects for increasing exports to Asia and Africa.

“If we talk about exports, e.g., we are not stopping in the African direction, the growth continues. We can already see that we are fulfilling all the contracts and even increasing them. If we compare it with the previous period, the growth is somewhere between 3-3.5 times. And we can say that we have almost completely replaced all the volumes of the European Union on the Asian markets, on the markets of the far arc countries,” the First Deputy Economy Minister summarised.