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PM: Belarus' GDP growth in 2025 is projected to be higher than world average
MINSK, 21 August (BelTA) – In 2025 Belarus' GDP growth is projected to be higher than the pace of development of the world economy, Belarusian Prime Minister Roman Golovchenko said during a meeting of the Council of Ministers in Minsk in 2025, BelTA has learned.
"Today, we will finalize the most important parameters of the budget forecast and the draft monetary policy targets for 2025 to be submitted to the head of state. The draft documents were considered and generally approved at a meeting of the Presidium of the Council of Ministers; instructions were given to finalize a number of issues. As a result, the draft documents were updated. The key parameters for the government and the National Bank for the coming year remain unchanged. Economic growth is projected at 4.1%, which is higher than the pace of development of the world economy," Roman Golovchenko said.
The growth is to be driven by active investments. Investment in fixed assets is projected at almost Br50 billion, up by 7.8%. Plans are in place to implement more than 600 investment projects, including 134 regional, 70 import-substituting and 27 integration ones.
There are plans to build 4.5 million square meters of housing, including 600,000 square meters in rental housing. Other plans include the construction and reconstruction of 15 kindergartens, 26 schools (at least 10 are new), about 20 sports facilities and 23 healthcare facilities, and more than 1,500km of roads of national and local importance.
Exports are expected to increase by 5.4%. "According to the Economy Ministry estimates, the expected momentum in foreign markets will make it possible to increase foreign exchange earnings by $2.8 billion. Export volumes are to reach $52 billion. The country is expected to run a foreign trade surplus at the level of 0.5% of GDP," the prime minister said.
According to him, the inflation must be kept within the parameters of the five-year program - under 5%.
"The target scenario will help increase real cash incomes of the population by 4% and real wages by 4.7%," the Belarusian head of government added.
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