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...
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...
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...
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...
03 January 2017
As of 26 December 2016, the oil and gas dispute between Belarus and Russia remains unresolved.
Moreover, Russia persistently rejects any tradeoffs: this deprives Belarus of a substantial part its foreign exchange earnings from petroleum product sales, thus aggravating the economic recession in Belarus.
In turn, the growth of state debt points to the formation of stable insolvency...
01 December 2016
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...
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...
26 October 2016
Belarus establishes closer political and economic links with Asian countries hoping to boost exports. Lukashenka urges CSTO members to elaborate a new development strategy and attain recognition from global players.
The Belarusian Parliament ratifies the Convention on the Rights of Persons with Disabilities. Belarus emerges successful in the long-standing oil and gas dispute with Russia...
05 October 2016
Belarus and China sign contracts totaling $20 million. The authorities build a large solar power station on land contaminated by the Chernobyl catastrophe. Aliaksandr Lukashenka participates in the CIS Summit for the first time since 2011.
A delegation of the European Commission visit the Belarusian NPP. The Belarusian President hopes that the Belarusian Orthodox Church will play a more...
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...
06 June 2016
According to official statistics for April, Viciebsk region owes more money to public sector employees than the rest of Belarus combined. 133 enterprises from the region owe $3m to their workers. One employee even climbed on a crane to demand payment of his salary arrears.
Currently a quarter of enterprises are loss-making and some are even bankrupt. Even Naftan refinery, the major...