In Moscow, CIS Economic Council Summarizes Results and Discusses 18 Issues

Belarus holds a leading position in the volume of trade among the Commonwealth of Independent States (CIS). A meeting of the CIS Economic Council took place in Moscow, led by Deputy Prime Minister Natalia Petkevich.

Summarizing the main macroeconomic indicators for 2024, experts noted that Belarus maintains a stable economic situation. The GDP growth stands at 4%, while the overall CIS countries show a growth of 4.5%. Belarus also has a good inflation rate — only 5%. This is lower than the CIS average of about 8.5%.

Additionally, Belarus boasts a low unemployment rate — just 3% — and shows positive dynamics in investment indicators. This is a strong foundation for future economic growth.

Konstantin Laikham, Chairman of the Interstate Statistical Committee of the CIS:

"Belarus is the leading country in terms of trade volume within the CIS. About two-thirds of the total trade turnover between CIS countries accounts for our shared trade. As some markets close, others open. There is a redistribution happening within our Commonwealth, and not only that. The world is large; it is not limited to Europe, America, or countries that have imposed sanctions. The Commonwealth itself is very resilient, of course. It remains a large market, with vast territories."

Eighteen issues were discussed at the session. One of them was ensuring energy security. A draft declaration on cooperation in this sphere is planned to be presented for review at the CIS Heads of State Council.