26 September 2014
On 19 September Russian Agricultural Control announced that Russia can restrict the imports of fish and dairy from a number of Belarusian companies. These companies allegedly violate the sanctions regime by re-exporting EU products under fake labels.
Since the very imposition of sanctions, Russia has constantly charged Belarus with cheating. Belarusian officials have denied the...
25 September 2014
Price increases for regulated goods and services, as well as the abolition of price regulations on meat had a stimulating effect on inflation in Belarus.
In the first half of 2014 a gradual reduction of Belarus' foreign currency reserves occurred as a result of significant foreign debt service payments. But over the summer this year external and internal borrowing and foreign...
08 September 2014
On Sunday, Foreign Minister Uladzimir Makei headed to South Africa and Nigeria for a round of meetings.
After losing its partners in the Middle East and at the time when relations with Latin America are stagnating, Belarus is seeking new trade partners.
This year, Minsk opened four embassies – in Ecuador, Mongolia, Australia and Pakistan. Another one - in Qatar - is...
02 September 2014
High-tech outsourcing is one of the most dominant trends in today’s economy, but few would associate it with Belarus, better known for its heavy machinery exports than IT experts. This appears to finally be changing. RnR Market Research projects Belarus’ IT outsourcing market to grow at an annual rate of 17.8% by 2018.
Its proximity to the EU, the availability of skilled...
24 July 2014
For the first time over the last six months, in June Belarus saw an increase in its foreign exchange reserves.
This growth was due to the issuance of a bridge loan by Russian VTB Bank.
At the same time, the overall amount of foreign exchange reserves remains relatively low, a problem which has been influenced by an increase in foreign debt repayments this year.
In order to...
09 July 2014
Last week, the Ministry of Transport of Belarus and the Belavia national air carrier revealed that they have been negotiating with Boeing.
Minsk is proposing to Boeing that it participates in the reconstruction of the Minsk aircraft repair plant and help establish a Boeing maintenance hub in that nation's capital.
In May a new Swiss investment project – a railroad...
02 July 2014
The economy of Belarus is showing signs of rising levels of output with most industries increasing their overall output figures throughout May. At the same time foreign and domestic investment demand are exhibiting signs of recovery.
However, this recovery does not itself necessarily signal a return to high output growth. The growth rate is likely to remain weak in the coming months...
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...