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,...
Belarusians can afford less than 300 shots of vodka and pork bites per month, according to BIPART’s new CharkaShkvarka Index. Sustainable Development Week continues until May 25. 34mag launches a series of off-line meetings with the editorial teams of Belarusian...
The first quarter of 2015 displayed a number of distressing trends in Belarusian economy. The adjustment of the exchange rate has not secured the restoration of competitiveness. Furthermore, the government has to resort to conservative policies for mitigating structural weaknesses. The economy...
In an attempt to fixate and extend the effects of currency devaluation, the Belarusian government and the National Bank have chosen internal devaluation as its leading policy. Internal devaluation means lower incomes and a more prudent fiscal and monetary...
For 2015, any positive growth would be considered a great success for the Belarusian authorities. Apart from external shocks, several structural challenges have emerged. A spike in inflation, deeper depreciation of the national currency, the distress of the banking industry,...
With the 2015 approaching fast, international NGO Pact identified the most notable items in Belarus’ civil society life in 2014. For the second straight year Pact acknowledged top 10 civic actions in Belarus. Belarus`s civil society is growing...
Belarus displayed modest but stable growth during past couple of months. However, future prospects for growth remain uncertain, given the deteriorating economic situation in Russia along with the desire of the authorities to carry out several growth stimulating policies. Moreover, there...
The main economic events for October in Belarus revolve around Russia: the ratification of the Eurasian Economic Union, the continued fighting over the re-export of banned European foodstuffs to Russia, and, finally, an argument over Russia’s oil tax manoeuvre. Russia’s...
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...
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...
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...
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...
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...
According to official forecasts, an improved climate for foreign trade and accelerated economic growth await Belarus in 2014. The growth of the country's negative trade balance in 2013 created additional pressure on the foreign exchange market and the dynamics of its foreign reserves. Improving...
