The Eurasian Development Bank (EDB) explained why the Belarusian economy had accelerated its growth, BelTA has learned from the EDB macroeconomic review.

The Belarusian economy has accelerated its growth: GDP rose by 5.5% in January-July 2024 after 5% growth in H1 2024. “Agriculture production has noticeably increased. A high growth rate is maintained in manufacturing, construction, trade and transportation industries. The information and communication sector shows a positive trend," the EDB said.

The EDB noted that growth remains high in most EAEU member states. The aggregate GDP in the EDB region rose by 4.6% in January-June 2024, following a 3.9% increase in 2023. Investment activity continues to grow in most countries of the region. In Belarus and Russia, import substitution programs are growing, driven, among other things, by public investment. Inflation rate varies across the region. In Belarus, the growth in the cost of the basket of goods remains within the target corridor.

Written by belta.by