Belarus and Russia's 2024 Economic Success: A Record-Breaking Year

Belarus and Russia Report Strong Economic Growth in 2024 MINSK/MOSCOW – The economies of Belarus and Russia experienced robust growth in 2024, according to a recent economic report. GDP expanded by 4%, exceeding expectations. This growth was driven by significant increases in investment and consumer spending. Investment in fixed capital saw an impressive rise of 8% in Belarus and 7.5% in Russia. This surge in investment indicates confidence in the future economic prospects of both nations. Furthermore, real disposable incomes increased by almost 10% in Belarus and over 7% in Russia, boosting consumer demand. The report also highlights a record-breaking trade turnover between the two countries, reaching $58 billion, a 7.5% increase compared to the previous year. This demonstrates the strengthening economic ties between Belarus and Russia. "The growth in investment and consumer spending is a positive sign for the future," said Stanislav Yaskevich, an economic expert featured in a recent video report. "This indicates a strong foundation for continued economic expansion." Belarus and Russia are actively working on implementing mechanisms for concessional lending within the Union State, which is expected to further stimulate economic growth and development. The strong economic performance of both countries bodes well for their continued prosperity and cooperation.