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Surviving year two of recession – digest of the Belarusian economy
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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...
30 May 2016
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The Costs of the Economic Downturn – Digest of Belarus Economy

On 6 May 2016 the Chairman of the Board of the National Bank of Belarus (NBB) Pavel Kallaur disclosed the long-suspected information about problems in the banking system. Two weeks later, the Prime Minister Andrei Kobyakov has called for market-based...

28 September 2015
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Why Belarusians Stay Away from the Belarusian Rouble

On 16 September a new regulation of the National Bank of Belarus on currency transactions came into effect. It forced all consulates in Belarus to suspend their activities for a few days in order for them to invent new...

24 August 2015
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Humanism or Political Calculation: Why Did Lukashenka Pardon Political Prisoners?

On 22 August, the state-run news agency Belta reported that “based on the principle of humanism” the President of Belarus decided to pardon and release from prison former presidential candidate Mikalaj Statkevich and five other opposition figures. Lukashenka is trying...

4 August 2015
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What Makes the 2015 Belarus Presidential Campaign So Different?

Each and every election in Belarus follows a straightforward pattern: limit the rights of the opposition, control the vote-counting process and, later, announce the predetermined winner. However, the 2015 campaign will differ from previous ones in a number of...

7 January 2015
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The Russian Contagion Spreads to Belarus – Belarus Economy Digest

Belarus's GDP growth managed to strengthen in November. But despite this, many signals about an upcoming downturn have appeared. The Russian economic contagion began to spread to Belarus through trade and informational channels. The government reacted by introducing a de-facto...

3 December 2014
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Belarusian Economy Sinks to Uncertainty – Belarus Economy Digest

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...

1 April 2014
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External Environment Poses New Risks for the Belarusian Economy

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...

24 January 2014
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What to Expect in 2014? – Digest of Belarus Economy

The year 2013 will probably go into the economic history of Belarus as a year when even the government officials acknowledged that the economy was stagnating, and there were no prospects for any quick economic growth in the years to come. The...

24 October 2013
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The Plan to Save the Economy: October Digest of Belarusian Economy

On the 10 October 2013 the government and the National Bank of Belarus issued a plan for structural reforms of the Belarusian economy aimed to increase its competitiveness.​  Faced with major threats to its macroeconomic stability and the unfortunate timing of the...

8 April 2013
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Belarusian Economy in March: Warming Up

Amidst the snowy spring of 2013, the National Bank of Belarus finally gave up on its attempts to maintain macroeconomic stability and turned its attention to the real sector.   The National Bank began carrying out a policy of providing...

13 February 2013
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Lessons from the 2011 Belarusian Devaluation

Belarusians in their modern history saw two major economic crises. The first followed the collapse of the Soviet Union in early 1990s and the second was in 2011 when many thought the Belarusian economy would crumble. The 2011 currency crisis and inflation dramatically changed well-being of Belarusians. Consumer...

12 January 2013
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SMS Devaluation

About a thousand Belarusains received an unusual anonymous SMS text on 4 January. According to the message the National Bank of Belarus had secretly decided to devalue the national currency by more than 60%. It was predicted that the new...

27 December 2012
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Belarus Economy in 2012: Low Growth and Fragile Stability

The currency crisis of 2011 has revealed the limits of the Belarusian economic model. On the one hand, it became obvious even to the most conservative government officials that changes in economic policy are required. On the other hand, the...

11 October 2012
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Belarusian External Debt: State Gains, People Pay

There are less than three months left until 2013, the year when Belarus will have to pay out $3.1bn of its external debt. Whether the government will manage to handle this challenge is still unclear. The Belarusian economy has not...