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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...
3 January 2017
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Under pressure from Eurasian Economic Integration – digest of the Belarusian economy

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...

1 December 2016
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Oil pessimism and manufacturing optimism – digest of the Belarusian economy

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...

13 November 2015
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Why Belarusians Cannot Afford Housing in Belarus

In 2015, prices for Belarusian apartments fell by about a quarter. Yet few Belarusians can afford to purchase an apartment even at this cheaper price. Interest rates are incredibly high, reaching 30-35% per annum. Banks also impose loan requirements...

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...

26 February 2015
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The New Economics without Oil – Belarus Economy Digest

Belarus is reeling from the effects of the wobbling oil price and Western-imposed sanctions on Russia. The economy is now paying for the absence of liberal reforms through a decrease in manufacturing, the depreciation of the national currency and the...

30 January 2015
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The Government is Preparing for a Recession – Belarus Economy Digest

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,...

6 June 2014
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Eurasian Integration: Does Lukashenka Have a Choice?

Aliaksandr Lukashenka expressed his resentment over exemptions and restrictions in the Eurasian Economic Union treaty during a meeting with a chairman of the upper chamber of the Russian parliament on 5 May. However, Lukashenka had effectively no other choice as to agree on the...

14 January 2014
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Hugo Chavez: the Musical, Tax Hike Protest, Opposition Leader Beaten – Western Press Digest

The western press covered a number of Belarus-related issues over the past month, though the economy remained their primary focus. The long-rumoured potential sale of state-owned assets to Russian investors appears to be moving forward. This news is closely tied...

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....

22 March 2013
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Economy Recuperates but Slower than Forcasted – Digest of Belarusian Economy

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...

27 November 2012
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Belarus Seeks Money to Serve Its Mounting External Debt

Today a Belarusian delegation which included the Minister of Finance of Belarus Andrey Kharkavets and the Minister of Economy Mikalai Snapkou arrives for a three-day visit to Singapore and Hong Kong. They plan to arrange a road show to market...

1 October 2012
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The Rise and Fall of Affordable Housing in Belarus

Whether you arrive in Minsk from the airport, bus or railway station, one of the first things you notice is abundant construction. You will see construction sites almost everywhere. New shiny office buildings of glass and concrete grow in the...