Real GDP Growth: Belarus

Analysis# Belarus Real GDP Growth Belarus's real GDP grew 1.4% in 2026, marking a slowdown from the previous year's 2.1%. Since 1993, the economy has expanded 118.4% overall, though growth has remained volatile. The country's peak growth of 11.5% occurred in 2004 during a period of strong economic expansion, while its worst contraction—11.7% in 1994—reflected the turbulent post-Soviet transition. Current growth falls well below historical highs but remains positive. The most significant turning point came in 2022, when Belarus contracted 4.5% due to geopolitical pressures and sanctions. Recovery followed in 2023 with 4.1% growth and 2024 with 4.0%, suggesting partial stabilization. However, the downward trajectory from 2024 onwards indicates moderating momentum. Projections show continued deceleration, with growth expected to remain below 2% through 2026, suggesting structural challenges ahead for the Belarusian economy.