Express Analysis. February 2024

Economic activity in Belarus continued to weaken. GDP grew by 2.8% (YoY) in January 2024 following a ≈4% growth (YoY) in December 2023. Weakening dynamics in the manufacturing sector and a drop in the construction sector led to a slowdown in annual output growth. In January 2024, the GDP volume (seasonally adjusted) decreased by ≈0.1–0.2% compared to December 2023. The output decline has been observed for the third month in a row.