Lukashenko Forecasts Belarusian Economy for 2025

In a recent interview with the intergovernmental television and radio company "Mir," Belarusian President Alexander Lukashenko shared his insights on the development of the Belarusian economy, as reported by BelTA.

The economic growth rate for Belarus in 2024 is projected to be around 4%. When asked whether such dynamics could be maintained this year, Lukashenko expressed optimism, stating, "Yes, the growth rates will be somewhere around that." However, he noted the inherent difficulty in continually increasing rates from already high levels: "The base is always growing, against which we calculate percentages."

"It is easier to grow from zero than from 90%, so naturally, sustained growth rates of 4.5% or 5% cannot be expected for us or Russia," the President emphasized. "But that is not alarming, as the one or two percentage points we anticipate increasing between 2027 and 2030 will carry more weight than today’s three, four, or five percent. Hence, it is unrealistic to expect that we will consistently grow by 5%."

Furthermore, Lukashenko pointed out that the growth of the Belarusian economy in 2024 surpassed that of Germany. "And we can speak about this confidently because we did not start from zero. Our economic base was very strong, and adding 4% is exceptionally challenging," noted the head of state.

In his view, it is crucial to "acknowledge and thank" those Western companies that have exited Belarus and Russia, which has inadvertently benefited domestic producers. "A vital sector is ensuring the needs of the people. And Belarus is well-equipped to provide for its citizens," he emphasized.

High-tech enterprises in Belarus, such as "Integral," have also gained an advantage. "Only Belarus has preserved the foundations of microelectronics, and today we are in demand not just in our primary market but also beyond the Russian market," the President continued.

Lukashenko also reiterated, "We have maintained our expertise and capabilities, which has resulted in substantial growth, primarily driven by the Russian market. We manufacture a wide array of products for defense, space exploration, and nuclear power, most of which are supplied as high-tech goods to technologically advanced sectors in Russia."