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...
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...
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...
On 5 August 2016, Andrei Labovich, First Deputy Minister of Labour and Social Protection of Belarus, said that the new Law on Employment would tackle the problem of the ‘professional’ unemployed. Simultaneously, in August 2016 the National Statistical Committee of...
On 16 February 2016, President Alexander Lukashenka announced zero tolerance for structural reforms being proposed by the government. Meanwhile, since the beginning of 2015 state debt has increased by more than half and real wages in dollar equivalent have fallen...
The first half of the year has shown clear evidence that the Belarusian economy needs better incentives to revive its industrial strengths. In July the authorities announced their plans to provide financial assistance to several "giants" of industry. However, this...
A labour strike at a major state-owned plant in June suggests that the current economic crisis will present serious political challenges to Belarus. Despite it being an election year, wages and pensions are not growing – a rare occurrence. Yet,...
Over the recent months the rate of economic growth in Belarus has been gradually declining. For eleven months the GDP grew only by 0.9%. A decline in industrial production had a detrimental effect on economic growth. Despite the decrease in...
While economic growth seems to be recuperating in January and February, it remains below the wishful forecasts of the government. At the same time, the situation with current account balance continues to be the pressing matter, as the government is...
