On 1 June 2017, Belarusian President Alexander Lukashenka announced that the oil refining industry was experiencing substantial problems. Meanwhile, the economy is still showing signs of recovery, growing three months in a row. This will encourage the government to make even better economic projections for next year. However, according to Belstat, Belarus's official statistical body, the real price of this economic miracle continues to come at the cost of simple people – every month, half of all Belarusians bring home less than half the average monthly wage.
On 1 June 2017, Belarusian President Alexander Lukashenka announced that the oil refining industry was experiencing substantial problems.
Meanwhile, the economy is still showing signs of recovery, growing three months in a row. This will encourage the government to make even better economic projections for next year.
However, according to Belstat, Belarus's official statistical body, the real price of this economic miracle continues to come at the cost of simple people – every month, half of all Belarusians bring home less than half the average monthly wage.
26 June 2017
On 7 June 2017, the Microsoft Corporation held a Government Industry Day at Belarus’s Hi-Tech Park with the participation of both Belarusian ministers and Microsoft experts. The seminar addressed issues surrounding the digital transformation of the economy and aimed to present technologies that could work for the finance, transport, health, education, and other economic sectors to the...
- 13 June 2017
- 07 June 2017
05 June 2017
On 17 May 2017, Belstat, Belarus's official statistical body, announced that Belarus's economy is growing for the second straight month.
Thus, on 24 May, Deputy Prime Minister Vladimir Semashka declared new investment plans for the industrial sector assuming further economic recovery.
Nevertheless, the economic environment remains complex and the debt burden of...
- 01 June 2017
05 May 2017
On 4 May 2017 Belarusian president Alexander Lukashenka declared that Belarus plans to gain approximately $50bn in exports off goods produced in the Great Stone industrial park.
Meanwhile, on 3 April 2017, Moscow and Minsk resolved all their disputes in the oil and gas sector.
On 18 April 2017, Belarusian prime minister Andrey Kobyakov announced that the Belarusian economy has...
26 April 2017
Next month, Belarusian leader Alexander Lukashenka will head for China. While he remains isolated in the West, this will be his tenth visit to Beijing. Addressing the Belarusian parliament on 21 April, Lukashenka gave much attention to Belarusian-Chinese relations and Belarus's key role in the Chinese 'Silk Road' project.
Political contacts between the countries look...
06 April 2017
On 3 April, Belarusian president Alexander Lukashenka succeeded in securing concessions from Vladimir Putin following a year-long oil and gas dispute between the two countries. In order to reach a deal, Minsk put the idea of buying oil from non-Russian sources back on the table.
On 15 February, the news source Reuters reported an oil deal between Belarus and Iran. It involved 80,000...
04 April 2017
On 3 April 2017, Economy Minister Vladimir Zinovsky announced a negative forecast for first quarter GDP growth in Belarus. This comes despite an increase in industrial output and exports at the end of March.
In this context, on 6 March a new IMF mission arrived in Belarus in an attempt to encourage the authorities to implement further economic reforms.
28 February 2017
On 20 February 2017, Belstat, Belarus's official statistical agency, announced that the GDP has once again dropped by 0.5 per cent in January compared with the same month in 2016.
However, on 21 February 2017, Prime Minister of Belarus Alexey Kobyakov tried to mitigate the country's economic problems by claiming that Russia's oil cuts are the main cause of current economic...
03 February 2017
On 3 January 2017, The Eurasian Development Bank announced that Belarus is the only economy among CIS countries with a forecasted GDP decline in 2017.
Meantime, the biggest problem of 2016 remains unresolved – on 28 January 2017, the Deputy Prime Minister of Russia Arkady Dvorkovich once again raised the bill for Belarus's supposed oil-gas debt.
In this light, the...
30 January 2017
Since late 2016, Belarusian tax authorities have started sending out notifications to all unemployed Belarusians forcing them to reimburse the government for 'state expenditures.'
In other words, the Belarusian state automatically assumes that all people not reported as working are freeloaders, taking advantage of the social system without contributing to it.