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Belarus Finally Reforms Its Economy?
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On 26 September in New York, Alexander Lukashenka met with IMF chief Christine Lagarde. They discussed prospects for an IMF-supported programme. According to the IMF statement “Lagarde welcomed some recent progress in strengthening the policy framework in Belarus, but emphasised...
30 September 2015
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Belarusian Economy A Month Before the Elections – Digest of the Belarusian Economy

In the last month before the Presidential elections, the Belarusian economy continues to disappoint. Although decline in GDP has slowed, the -3.5 per cent growth has failed to impress. The Belarusian rouble continues to depreciate as oil prices plunge. The...

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...

5 August 2015
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Why Are Belarusian Economic Forecasts Constantly Inaccurate?

According to the official five-year Socio-Economic Development Programme For 2011-2015 the GDP was supposed to increase by 62-68 per cent by the end of 2015. In reality, the growth is likely to hit around 6...

29 July 2015
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Creeping Signs of the Approaching Crisis – Belarus Economy Digest

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...

21 July 2015
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Why Belarus Struggles to Stop Subsidising Its Enterprises

This month, the Belarusian Ministry of Finance will issue bonds for $425.8 million to bail out Gomselmash (abbreviation for Homiel Rural Machine Building), the most important industrial holding company of the second largest city in the country. The large...

7 April 2015
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Isolated Academia, Capital Punishment, and Lukashenka Speaks Up – Western Press Digest

The Belarusian head of state continues to raise his profile in the West, most recently in an interview with a major western press outlet. In the interview Lukashenka snubs Putin and says that a repeat of the events in...

24 March 2015
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Belarus Chose Internal Devaluation as New Anti-Crisis Policy – Digest of Belarusian 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...

24 October 2014
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The Unwanted Economic Union in Exchange for Money – Digest of the Belarusian Economy

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...

27 March 2014
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What Policy Can The Belarusian Economy Sustain?

The official forecasts for socio-economic development in 2014 is as conservative as it has ever been: the projected GDP growth is only 3.3%. International organisations and independent forecasters are even less optimistic.  The economic authorities' plans for...

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...

21 October 2013
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Azerbaijan Elections Praised, Corruption in Construction Industry, IMF – Belarus State TV Digest

State TV Channel 1 widely covered the presidential elections which recently took place in Azerbaijan. A visit of Ukrainian Prime Minister Nikolai Azarov to Minsk resulted in the signing of a package of agreements. Alexander Lukashenka also made it clear...

19 September 2013
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IMF Loans: The Money We Do Not Need?

A controversial event took place next to the International Monetary Fund (IMF) office in the middle of the summer in Washington, DC.Dozens of Belarusians stretched eye-catching posters encouraging the IMF to assist Belarus....

30 April 2013
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Belarusian Economy in April: GDP Growth, Privatisation and Monetary Policy

This April economic growth in Belarus was nearly at the level of last year's, which still remains significantly below the official forecast. The financial sector showed certain stability but the situation with attracting foreign capital and the nation's privatisation prospects...

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...