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Putin expects Belarus to boycott ports of Baltic States
On 16 August, at a conference on transportation in Northwest Russia, Russian president Vladimir Putin demanded that Belarus stop exporting its oil products through Latvian and Lithuanian ports. Instead, Moscow wants Belarus to reroute through Russia’s Baltic ports. This...
3 July 2017
Remember reforms and forget about oil – digest of the Belarusian economy
Remember reforms and forget about oil – digest of the Belarusian economy

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...

5 June 2017
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The end of a long-lasting recession? – Digest of the Belarusian economy

On 17 May 2017, Belstat, Belarus's official statistical body, announced that Belarus's economy is growing for the second straight month. Thus, on 24 May, Deputy Prime Minister Vladimir Semashka declared new investment plans for the industrial sector assuming further economic...

5 May 2017
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Privatization: one step forward, two steps back – digest of the Belarus economy

On 4 May 2017 Belarusian president Alexander Lukashenka declared that Belarus plans to gain approximately $50bn in exports off goods produced in the Great Stone industrial park. Meanwhile, on 3 April 2017, Moscow and Minsk resolved all their disputes in...

6 April 2017
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Belarus’s plan to import Iranian and Azerbaijani oil: how serious is Minsk?

On 3 April, Belarusian president Alexander Lukashenka succeeded in securing concessions from Vladimir Putin following a year-long oil and gas dispute between the two countries. In order to reach a deal, Minsk put the idea of buying oil from...

3 February 2017
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Surviving year two of recession – digest of the Belarusian economy

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...

15 November 2016
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How Belarusian oil imports change geopolitics in Eastern Europe

On 31 October, several years after imports of non-Russian oil into Belarus ceased, the first cargo train carrying Azerbaijani oil reached a refinery in the Belarusian city of Mazyr. Although the Belarusian government has so far imported only a limited...

2 November 2016
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Autumn of tough economic decisions – digest of the Belarusian economy

On 17 October 2016, new macroeconomic data from Belstat, Belarus's national statistical committee, indicated that this year's economic decline seems to have finally halted. The GDP stopped falling and foreign trade saw a slight revival. However, on 21 September the...

26 October 2016
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Oil and gas dispute settled, projects with Poland, Chechen refugees – state press digest

Belarus establishes closer political and economic links with Asian countries hoping to boost exports. Lukashenka urges CSTO members to elaborate a new development strategy and attain recognition from global players. The Belarusian Parliament ratifies the Convention on the Rights of...

5 October 2016
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Cooperation with China, attracting tourists, involving the church – state press digest

Belarus and China sign contracts totaling $20 million. The authorities build a large solar power station on land contaminated by the Chernobyl catastrophe. Aliaksandr Lukashenka participates in the CIS Summit for the first time since 2011. A delegation of the...

3 October 2016
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Russian oil blackout – digest of Belarus economy

On 14 September 2016 First Deputy Prime Minister of Belarus Vladimir Semashka announced that negotiations on oil and gas relations between the Belarusian authorities and Russia's main economic players had failed. Meanwhile, the oil crisis has cast further uncertainty on...

6 June 2016
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Why Viciebsk Region Lags behind

According to official statistics for April, Viciebsk region owes more money to public sector employees than the rest of Belarus combined. 133 enterprises from the region owe $3m to their workers. One employee even climbed on a crane to...

31 March 2016
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Waiting for a Miracle: Digest of Belarus Economy

On 28 March 2016 the Council of the Eurasian Fund for Stabilisation and Development (EFSD) approved the provision of a new loan to Belarus. In the meantime, the export and real estate market established new numbers of their record fall,...