Minister: Public welfare is key in Belarus’ 2027 economic forecast
29.07.2026
MINSK (
BelTA) – The main parameters of Belarus’ social and economic development forecast are aligned with the social and economic development program through 2030, Belarus’ Economy Minister Yuri Chebotar told the media, BelTA has learned.
The draft forecasts for the social and economic development of the Republic of Belarus, monetary policy targets, and the national budget for 2027 were considered at a meeting of the Presidium of the Council of Ministers.
“The key priority is the welfare and prosperity of people. In this regard, the plan provides for the fulfillment of all the main priorities of the five-year program,” the minister said.
The preparation of the forecast took into account the turbulence in the global economy. Compared to last year, when targets were set for the five-year period, external conditions have changed significantly. Global GDP is slowing, and Belarus’ main trading partners are lowering their growth targets. “We are responding to this as well. That is why the forecast takes into account the state of affairs of our economic partners such as CIS nations, distant countries and so on, and this is one of the new elements of the forecast,” the minister noted.
Another key innovation for the coming year is the acceleration of the production and investment program. “Sectoral ministries, concerns, and regional authorities will be tasked with speeding up the implementation of investment projects in order to gain the benefits of new products and additional sales. Export growth is projected at around 2.9 %. The main focus will be on boosting exports of services (slightly over 4 %) through our priority areas: tourism, IT, and others,” the minister said.
The investment program is aimed at fulfilling the targets of the five-year plan. The country is set to build about 4 million square meters of residential housing, including rental housing. Commercial investment projects (over 700) are also planned, including under the Regional Initiative and Tourism Potential programs. The Economy Ministry sees strong demand for such credit products.
“GDP is forecast at around Br360 billion. This aggregate national resource will enable, above all, an increase in the welfare of the population. Income growth and real wage growth are projected at over 3 %,” the minister reported. “Inflation is projected within 6 %. The main parameters have been calculated together with regulators, industries, and regions.”
The draft forecasts for the social and economic development of the Republic of Belarus, monetary policy targets, and the national budget for 2027 were considered at a meeting of the Presidium of the Council of Ministers.
“The key priority is the welfare and prosperity of people. In this regard, the plan provides for the fulfillment of all the main priorities of the five-year program,” the minister said.
The preparation of the forecast took into account the turbulence in the global economy. Compared to last year, when targets were set for the five-year period, external conditions have changed significantly. Global GDP is slowing, and Belarus’ main trading partners are lowering their growth targets. “We are responding to this as well. That is why the forecast takes into account the state of affairs of our economic partners such as CIS nations, distant countries and so on, and this is one of the new elements of the forecast,” the minister noted.
Another key innovation for the coming year is the acceleration of the production and investment program. “Sectoral ministries, concerns, and regional authorities will be tasked with speeding up the implementation of investment projects in order to gain the benefits of new products and additional sales. Export growth is projected at around 2.9 %. The main focus will be on boosting exports of services (slightly over 4 %) through our priority areas: tourism, IT, and others,” the minister said.
The investment program is aimed at fulfilling the targets of the five-year plan. The country is set to build about 4 million square meters of residential housing, including rental housing. Commercial investment projects (over 700) are also planned, including under the Regional Initiative and Tourism Potential programs. The Economy Ministry sees strong demand for such credit products.
“GDP is forecast at around Br360 billion. This aggregate national resource will enable, above all, an increase in the welfare of the population. Income growth and real wage growth are projected at over 3 %,” the minister reported. “Inflation is projected within 6 %. The main parameters have been calculated together with regulators, industries, and regions.”