On 26 November Belarusian Deputy Prime Minister Vladimir Semashko announced that the recession in the Belarusian manufacturing sector has ended. However, Belarusian banks strongly disagree with this statement. They yearn for more financially stable corporate borrowers, especially in the industrial sector. Meantime, oil refining – currently the mainstay of Belarusian manufacturing – is under threat as Russia reduces the volume of oil it supplies to Belarus for processing. This is likely to impede Belarus's recovery from the economic recession even further.
On 26 November Belarusian Deputy Prime Minister Vladimir Semashko announced that the recession in the Belarusian manufacturing sector has ended.
However, Belarusian banks strongly disagree with this statement. They yearn for more financially stable corporate borrowers, especially in the industrial sector.
Meantime, oil refining – currently the mainstay of Belarusian manufacturing – is under threat as Russia reduces the volume of oil it supplies to Belarus for processing. This is likely to impede Belarus's recovery from the economic recession even further.
15 November 2016
On 31 October, several years after imports of non-Russian oil into Belarus ceased, the first cargo train carrying Azerbaijani oil reached a refinery in the Belarusian city of Mazyr.
Although the Belarusian government has so far imported only a limited amount of alternative oil, Minsk has nevertheless demonstrated to other nations that this is possible. This has changed the geopolitics...
02 November 2016
On 17 October 2016, new macroeconomic data from Belstat, Belarus's national statistical committee, indicated that this year's economic decline seems to have finally halted. The GDP stopped falling and foreign trade saw a slight revival.
However, on 21 September the IMF warned the Belarusian authorities about new threats to macroeconomic stability, namely the high level of bad...
01 November 2016
The autumn of 2016 has seen many plans to boost investment in Belarus.
On 17 September Minsk hosted the first Belarus-Oman business forum, while on 29-30 September the Belarusian capital hosted the Belarusian Forum: "Broadening Horizons. Investment. Finance. Development". Moreover, autumn has become a traditional season for hosting the German-Belarusian "Minsk Forum....
07 October 2016
Speaking at the United Nations General Assembly in 2014, Belarus’s Foreign Minister, Uladzimir Makiej, criticised the imposition of “alien” political and economic models on his and other countries.
He said that weaker states were given a choice: either they accept such models, or they face “threats, sanctions, and colour revolutions.”
03 October 2016
On 14 September 2016 First Deputy Prime Minister of Belarus Vladimir Semashka announced that negotiations on oil and gas relations between the Belarusian authorities and Russia's main economic players had failed.
Meanwhile, the oil crisis has cast further uncertainty on how long Belarus' economic recession will continue and whether the execution of the state budget for 2017 will...
19 September 2016
On 7 September 2016 BEROC (Belarusian Economic Research and Outreach Center) held a seminar on private sector development in Belarus featuring presentations and debates from experts.
Peter Arushanyants, Director of the Department of Entrepreneurship at the Ministry of Economy of Belarus, has asserted that the government will do its best to promote the development of entrepreneurship in...
30 August 2016
On 25 August 2016 the National Statistic Committee of Belarus (Belstat) publicised new macroeconomic data for July, which showed that the economy is suffering from a lack of investment flows.
Meanwhile, according to the National Bank of Belarus the continuing decline of companies' profits threatens the financial stability of the country.
Finally, the CEO of "Great Stone...
15 August 2016
On 7 August 2016 the Minister of Agriculture and Food of Belarus Leanid Zayats announced that the country received $11m per day between January and June 2016 for exporting its agricultural products; this accounted for 18 per cent of all Belarusian exports.
Moreover, according to national statistics Belarus has become the third largest world exporter of butter and powdered milk, as well...
12 August 2016
On 5 August 2016, Andrei Labovich, First Deputy Minister of Labour and Social Protection of Belarus, said that the new Law on Employment would tackle the problem of the ‘professional’ unemployed.
Simultaneously, in August 2016 the National Statistical Committee of the Republic of Belarus released data on employment figures in the sphere of industry for 2011-2016. According...
08 August 2016
On 19 July 2016 the National Statistic Committee of Belarus (Belstat) has announced the macroeconomic results of the first half of the year. The figures disappoint – economic growth still in the red zone.
Moreover, the Eurasian Development Bank has warned that the Republican budget requires additional cuts in order to sustain the acceptable level of state debt.
08 July 2016
June 2016 became a breakthrough month for the potash industry in Belarus. The state-owned company “Belaruskali” managed to sign two long-awaited contracts with two major potash consumers – India and Bangladesh.
However, the main news came from China: on June 17 Belarus received a $1,4bn loan from the China Development Bank for construction of a new mining and...
04 July 2016
Belarus is one of the world's top 10 butter producing countries.
However, such an achievement comes at a price - every year the agricultural sector in Belarus requires at least $750m on average in government subsidies. This is more than the Belarusian army, police force, health care sector and education budgets all together, according to the Polskie Radio
Today, even in...