Express Analysis. March 2023

The GDP of Belarus decreased by 3.6% (YoY) in the first two months of 2023. In February alone, this decrease in the indicator was estimated at ≈1.9% (YoY) after a ≈5.0% (YoY) decrease in January. The GDP volume (seasonally adjusted) increased significantly (by ≈0.7%) versus January. This indicates the shaping of the output recovery dynamics, although the risks regarding its strength and resilience are still relevant.