GDP Projected to Increase by 16% Over the Next Five Years

Support for regions, digitalization of the economy, and a large rental housing program are just some of the key priorities for the development of Belarus in the upcoming five-year period. These prospects were discussed today at the Government. The Council of Ministers reviewed key program documents, including the concept for socio-economic development until 2030. While the document is currently presented in broad outlines, it will be detailed over time. However, the priorities have already been established, notably for the first time based on citizens' expectations.

The main five-year forecast document has absorbed all essential tasks; everything that was highlighted in the President’s electoral program, as well as during the inauguration and subsequent specific directives to the new government, has been concentrated here. The focus is clear, and development is framed within concrete figures. The relevant minister is expected to underscore the primary point: the economy will not slow down.

The priorities include, first and foremost, digitalization. The message is clear—technology today is synonymous with the competitiveness of our industry and a real contribution to economic growth. Secondly, regional support is emphasized; regions need investment projects and social infrastructure. The government promises full engagement in regional development. Additionally, rental apartments, a topic frequently mentioned at the highest levels, will significantly benefit the real sector and breathe new life into the regions. The potential of tourism is also recognized as something that needs to be utilized more effectively.

Alexander Turchin, Prime Minister of Belarus:

One of the innovations is that for the first time, the program includes clear quantitative indicators that we need to achieve and monitor. The program is also supported by resource backing for the economy. Furthermore, we conducted a large-scale sociological study.

The mention of sociology by the Prime Minister is not coincidental. Belarusian citizens were also asked about their expectations for the upcoming five-year period. More than 30,000 people participated in the survey, and the general positions were incorporated into the socio-economic development program.

Oleg Makarov, Director of the Belarusian Institute for Strategic Studies:

What did the research show? Our citizens are pragmatic and want an increase in welfare, good infrastructure, and industrial development. At the same time, they desire improvements in government management, a reduction in bureaucracy, and the development of new industries related to innovation. They also expressed a desire for peace and stability. This emphasis on economic growth and development is seen as key to financial and social stability. The government is determined to achieve solid growth rates and has committed to providing realistic and attainable projections. The full forecast is expected to be presented in Parliament soon, in May.