economic crisis

International agency Standard&Poors in April increased Belarus' credit rating from B- (negative) to B (stable). The agency i observed the signs of financial stabilisation in Belarus economy. Although inflation is still very high, it began to slow down, the pressure on devaluation of Belarus ruble decreased and foreign reserves increased.

Just in September 2011 Standard&Poors...

Although prices in Belarus are as high as in any European country, salaries are very low. The average monthly income is around USD 200, but people still manage to buy food, flats and smart phones. How is it possible to make ends meet with such a low income? 

According to the State Statistics Committee Belstat, between January and October 2011 the average monthly salary in...

In December most Belarusian commentators focused on significant events of the 2011 and forecasts for the year 2012 - their outlook was rather pessimistic. The Independent Institute of Socio-Economic and Political Studies published results of its recent polls which show that over 80% of Belarusians think that the economy of the country is in crisis, and over 55% believe that the country is...

The year of 2011 was in many respects a unique year for Belarus. Unlike a regular year, it started not on 1 January but rather on 19 December of the previous year. On that day the presidential election took place and in the evening a huge crowd of protesters gathered in the center of Minsk. The police violently dispersed the crowd. Hundreds of the protesters were arrested, including 7...

This November Belarusians observed highly unusual political developments. On 8 November Prime Minister Mikhail Myasnikovich denounced the Presidential Administration and the President’s aide on economic affairs Siarhey Tkachou personally for systemic mistakes in economic policy.

Myasnikovich argued that the Presidential Administration and Tkachou had personally been the key...

On 4 November Alyaksandr Lukashenka declared that Belarus and Russia were close to reaching a new agreement on natural gas supplies for 2012. He also expressed confidence about the probability of coming to an agreement with Russia on equal prices for oil and gas within the Customs Union of Belarus, Russia and Kazakhstan. However, Lukashenka also made it clear that if the suitable...

Unable to deal with the economic crisis by economic means and fearing a revolution, Belarusian ruler Alyaksandr Lukashenka strengthens the KGB.  

Last Thursday the Belarusian rouble fell sharply against the US dollar. Now the rate is 9,000 Belarusian rubles for one dollar. In September, the rate was less than 8,000 rubles. The new fall clearly breached Lukashenka'...

Belarusian analysts discuss the implications of the economic crises in Belarus which shakes the foundations of the Belarusian regime. Other topics include the trial of April 11 terrorist suspects and the need for dialogue between the West and Belarusian authorities. 

The Konovalov-Kovalev trial will change public opinion on the death penalty - Publicist...

As the global economy teeters on the brink of breakdown, Belarus’ own financial woes still get a mention in Western financial news. In political terms, suspected links between Belarusian business and the Iranian nuclear programme, as well as the beginning of the Minsk bomb attack trial, have gained some attention over the last month.

Nuclear Allies in Iran....

Thousands of shoppers from Russia cross the Belarusian border every day to buy large quantities of cheap Belarusian goods. Shopping in Belarus became very attractive after the Belarusian rouble lost over a half of its value in 2011. 

Belarusian shops cannot satisfy the demand of Russian consumers and often run out of stock, leaving the locals without essential goods. Some...

As the economic crisis deepens prices on nearly all products rise sharply in Belarus with one remarkable exception - alcohol.  These days a bottle of vodka in Belarusian restaurants often costs less than a packet of orange juice - US$3.  In a supermarket half a liter of a cheap alcoholic drink with around 30% alcohol content costs around US$0.65. Yesterday the government...