25 June 2014
Lukashenka's administration believes that Belarus' participation in the Eurasian Economic Union (EaEU) does not restrict its ability to balance its interests between Russia and the West.
Despite Russia's position, Belarus continues to participate in the Eastern Partnership. Belarus has even recognised the results of the presidential election in Ukraine. ...
24 June 2014
At a press conference on 11 June, Russian ambassador to Belarus, Aleksandr Surikov, announced that Russia had agreed with Belarus to acquire three Belarusian military and high-tech large-scale industrial complexes.
Belarus has always been very reluctant to sell of its state property for various reasons, which is not limited to just collecting rent for the...
10 June 2014
On 27 May Lukashenka announced several radical initiatives that would virtually introduce serfdom into the nation's state-run farms. Two weeks later it remains unclear how serious Lukashenka was but the authorities like to resort to drastic administrative policies to regulate the economy.
In 2012, the government introduced...
06 June 2014
Aliaksandr Lukashenka expressed his resentment over exemptions and restrictions in the Eurasian Economic Union treaty during a meeting with a chairman of the upper chamber of the Russian parliament on 5 May.
However, Lukashenka had effectively no other choice as to agree on the creation of this economic bloc a week earlier, because the Belarusian economy heavily...
23 May 2014
The growth rate of inflation in the 1st quarter of 2014 amounted to 6.6% and made plans for reaching the official targets for annual inflation highly unlikely.
Despite this, a gradual reduction in refinancing rates with a second round of cuts has been preserved. It was also accompanied fixing the maximum rate of ruble loans at a rate of 39.4% for...
- 16 May 2014
08 May 2014
At the end of March, Aleksander Lukashenka gathered the management of Belarus' scientific institutions and top government officials to discuss the problems of Belarusian science.
The meeting revealed that much of what the National Academy of Sciences brands as its cutting-edge achievements are simply revamped successful projects from Soviet times and have no breakthrough...
29 April 2014
This April the National Bank decided to its reduce refinancing rate, which has remained unchanged for the past 10-months. This measure is, to some degree, a helping hand for the real sector that is facing significant difficulties at present. However, despite their best intentions, this move may actually lead to serious imbalances...
11 April 2014
In the near future Minsk and Beijing plan to sign the main contract for the China-Belarus Industrial Park. Once a project that used to hold great promise, now appears to be a failure.
Lately, Belarusian-Chinese relations have gone through a number of stumbling blocks, including the delay of the industrial park near Minsk and a manufacturing plant...
01 April 2014
Economic performance during first two months of 2014 has been rather disappointing. First, almost all industries reduced their output which led to a decline in GDP by 1.6% year-on-year in January-February.
Second, Belarus has faced new challenges on foreign markets, which are a consequence of capital outflows and weakening growth in Russia.
27 March 2014
The official forecasts for socio-economic development in 2014 is as conservative as it has ever been: the projected GDP growth is only 3.3%. International organisations and independent forecasters are even less optimistic.
The economic authorities' plans for 2014 are also unusual. Less than two years before the next presidential election, the "pillars" of the...
19 March 2014
On 12 March at a meeting of the Security Council of Belarus, Lukashenka confirmed that Belarus would maintain contact with the new Ukrainian government. He emphasised the close economic ties between Belarus and Ukraine and gave guarantees to Ukrainian business that their fruitful relationship would continue unscathed.