Against the tide: No economic recovery in sight
Last year, the entire global economy was dominated by a single issue – the COVID-19 pandemic. With a GDP decline of 0.9%, Belarus made it through the crisis relatively unscratched. This can be explained primarily by the almost complete absence of local lockdown measures.
In the wake of the ongoing political crisis following the presidential elections, financial risks and economic uncertainty have increased significantly. These factors will have a significant negative impact on economic development this year. Thus, while the global economy is slowly leaving the COVID-19 pandemic behind and expands again, the economic crisis in Belarus is likely to worsen.