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Belarus ranks third among fastest growing European economies in 2024

An archive photo

MINSK, 10 December (BelTA) - Belarus ranks third in the list of European countries in terms of their projected GDP growth for 2024 based on data from the IMF’s World Economic Outlook. The data was visualized by the Visual Capitalist media company.

According to the graphic prepared by the media company, Belarus’ GDP will expand by 3.6% in 2024. Belarus shares the third position with Russia that is projected by the IMF to grow by 3.6% too.

At the top of the list, Malta stands out with an economy heavily focused on services, including tourism and financial services. Malta's GDP growth is forecast at 5%. Serbia’s economy has also gained momentum in 2024, driven by services such as trade, tourism, catering, and construction. Its GDP may expand by 3.9%, according to the IMF.

Poland and Lithuania are predicted to have the GDP growth at 3.0% and 2.4%, respectively.

“European countries have faced significant challenges recently, including shrinking business activity and the euro hitting its lowest level against the dollar since 2022,” the publication reads. “Despite these headwinds, some nations have demonstrated robust economic growth in 2024.”

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