The World Bank (WB) has published a new forecast of GDP dynamics of Belarus in 2023. This follows from the materials of the organization for the developing countries of Europe and Central Asia. Compared with the previous assessment (April), the updated forecast growth rate of the domestic economy has increased by five (!) times. According to the updated data, published in October, the economy of Belarus will grow by 3% in 2023.
The WB expects that the Belarusian economy will continue to grow in the next few years, but not so dynamically. Their forecast is as follows: 2024 - plus 0.8%, 2025 - 0.7%.
The World Bank has changed its forecast for Belarus for the current year several times, and always for the better. In 2022, it was said about a decline in GDP by 2.3%. In April 2023, growth of 0.6% was already forecasted.
Alexander Lukashenko set a task for the government to ensure GDP growth of at least 3.8% in 2023. In addition, October 2, this year, the President of Belarus signed Decree № 307, which approved the most important forecast parameters of the country's development for 2024. Due to large-scale investment and production programs, sale of Belarusian products to foreign markets and expansion of domestic demand, the gross domestic product is projected to grow by 3.8%.
The WB experts forecast that the world real GDP will grow by 2.1% in 2023, which is higher than the forecast of 1.7%
