Belarus' GDP

18.10.2017

Inflation in Belarus at 2.7% in 2017 so far, the best figure in sovereign history
Inflation in Belarus at 2.7% in 2017 so far, the best figure in sovereign history On October 17, the Council of Ministers said inflation in Belarus was at 2.7% as of September 2017, which is the best figure in the sovereign history of Belarus. The government discussed the economic development of the country from January to September 2017. Real incomes of the population increased during the reporting period, however, the schedule for increasing salaries was not fully implemented.

08.10.2017

Stable forecast: Standard & Poor’s agency increases Belarus’  long-term credit rating to  level B
Stable forecast: Standard & Poor’s agency increases Belarus’ long-term credit rating to level B The international agency “Standard & Poor’s” increases the long-term sovereign credit rating of Belarus to level B, and at the same time preserving the stable forecast.

23.08.2017

Salaries, prices, food security, housing construction: what topics were discussed at the meeting with President
Salaries, prices, food security, housing construction: what topics were discussed at the meeting with President Prices, salaries, employment, export, food security, housing construction and even the issue of super-combines - these and other topics were discussed on August 22 in the Palace of Independence at a meeting of the Belarus President with the government. The President and the government spoke about key positions: implementation of annual forecasts, control over pricing and labor market issues. The economy has grown, and six of the seven main indicators were met. By the end of 2017, the planned growth of people's real incomes should be exceeded.

14.07.2017

Belarus' GDP growth expected at about 1% in H1 2017
Belarus' GDP growth expected at about 1% in H1 2017 Belarus' Ministry of Economy expects GDP growth rate of at least 101% in the first half of 2017. July 14, the ministry announced the preliminary results of some industries' performance. Industry is showing steady growth. The lowest level of backlogs over the last five years is now observed. In 2017 alone, Belarusian enterprises have entered 17 new markets. There are no problems in the construction sector either.

31.05.2017

Labor minister: Real wage growth rate in Belarus at 101.5%
Labor minister: Real wage growth rate in Belarus at 101.5% Positive dynamism of economic growth does persist in Belarus. On May 30, the Belarusian government summed up the results of the economic performance in January-April 2017. More than 15,000 jobs have been created in the country during the last five months of 2017. Among the top employees are mainly new enterprises. The situation in the labor market is gradually stabilizing. All this gives grounds for hoping that the average salary in Belarus will have reached BYN1,000 by the end of 2017. The head of state previously set such a task before the government.

17.05.2017

World Bank forecasts GDP growth in Belarus in 2018
World Bank forecasts GDP growth in Belarus in 2018 The World Bank forecasts GDP growth in Belarus in the coming years. According to WB's studies, the gross domestic product in Belarus will grow by 0.7% in 2018, and then by 1.2% in 2019. According to experts' conclusion, in early 2017, the country's economy showed some stabilization, due to the growth of export.

16.12.2016

Belarusians' incomes to grow 11% by 2020
Belarusians' incomes to grow 11% by 2020 Investments, employment, exports, information, and youth. The Belarus President approved a program of socio-economic development of the country until 2020. Its main purpose is to improve the quality of life, attract investment and develop innovations. By 2020, Belarusians' revenues should grow by 11%, while inflation should not exceed 5%.

02.11.2016

Belarus registers budget surplus in January-September 2016
Belarus registers budget surplus in January-September 2016 In the first 9 months of 2016, the Belarusian budget was formed with a surplus. In other words, budget revenues exceeded expenditures: plus 900 million, or 1.2% of the GDP. Most of the finance was received by the Social Security Fund as well as from the payment of value added tax.  In turn, the largest expenditures were the financing of social services - education, health, and pensions.

06.10.2016

Salaries in Belarus to increase by 9% in 2017
Salaries in Belarus to increase by 9% in 2017 Belarus' draft budget for 2017 has been adopted. In the second reading, the absolute majority of deputies voted for the draft of the main financial document. It will retain social orientation. One-third part of the budget will be earmarked for state programs: in education - for the development of innovative approaches, while in health care focus will be made on affordability and quality. Payroll fund will increase by 9%, while labor pensions will be increased twice.

05.10.2016

Half of budget expenses to be earmarked for social policy in Belarus in 2017
Half of Belarus' budget expenses to be earmarked for social policy in 2017 Representatives of the House of Representatives have adopted the draft budget for 2017 in the second reading. It was approved by a majority vote.  State revenues were approved in the amount of more than BYN18 billion, expenses over BYN16 billion. Over 40% of planned revenues will come from value-added tax.

26.09.2016

Belarus President: Knowledge and technology are key to solving economic problems
Belarus President: Knowledge and technology are key to solving economic problems Export of products for Belarus is like oxygen to the body. But economic success does not depend only on external factors. On Friday, President Lukashenko sternly warned the government on this issue and demanded to search internal reserves, which can still be found, no doubt about that. I think that every self-critical employee and manager can agree with it. It's not just about the number of blister or the amount of sweat, but also about the effective management, new knowledge and, of course, new technologies.

09.08.2016

Investments in Minsk in H1 2016
Investments in Minsk in H1 2016 The economy committee of the Minsk city executive committee has counted incomes from foreign investments. Since the beginning of 2016, Minsk has received more than 600 million dollars of foreign direct investment on a net basis. The share of Minsk among regions of Belarus is over 60 percent. The main investors of the capital today are Russia, Germany, Poland and France.

06.07.2016

250 Belarusians born Independence Day July 3 accept congrats
Over 250 Belarusians born on Independence Day July 3 Moms of babies who were born on July 3, which is Belarus Independence Day, accepted congratulations and received gifts. On Independence Day, when the whole of Belarus admired the spectacular parade, sang the national anthem and enjoyed the colorful fireworks, more than 250 children were born. One-fifth of them were born in Minsk. 52 children were born in Minsk on that day. There were more boys than girls. Moms of all children received gifts, which included everything a baby and a mom need in the first days after childbirth.

30.06.2016

Vladimir Semashko: Industry is main contributor to Belarus' GDP
Vladimir Semashko: Industry is main contributor to Belarus' GDP Belarusian industry monthly shows higher growth rates compared to that of EEU partners, Deputy Prime Minister Vladimir Semashko said at a joint session of the House of Representatives and the Council of the Republic. It is now industry that is the main contributor to the restoration of the republic's GDP. The reforms that began in late 2015 showed their effectiveness. Also, the Deputy Prime Minister announced reduction in electricity prices. Gas prices and energy costs for Belarusian companies will still be tied to the US dollar.

22.06.2016

Mikhail Myasnikovich: 25-27% of Belarus' GDP should go for investments
Mikhail Myasnikovich: 25-27% of Belarus' GDP should be channelled for investments We continue to analyze what has been said in the framework of the 5th All-Belarusian People's Assembly. Do you remember that very thin ice on which Belarus had to walk last century (about which the President was talking)?

21.06.2016

Best companies and regions honored in Minsk June 21
Belarus' GDP up 5.8% in 2011-2015 On the eve of the All-Belarusian Assembly, the best districts and companies of the country were honored at State Flag Square. They are now on the renewed National Board of Honor. The corresponding decree was signed by the Belarus President. The Minsk, Vitebsk and Grodno regions have been hailed for performance in the field of socio-economic development. The Zhitkovichi, Nesvizh and Dokšycy districts are the most thrifty.

29.05.2016

Alexander Lukashenko: Belarus has everything for annual GDP growth
Alexander Lukashenko: Belarus has everything for annual GDP growth Let's start with the economic topic, which is the main one in politics and in "kitchen debates". Different economic topics are on people’s lips, for example, the introduction of new banknotes in Belarus. It will happen in a month and stores are already preparing us to the new price tags (without the four zeroes). The ruble's face value will become closer to major world currencies. But not only the ruble. 

17.05.2016

Export growth and new jobs: What tasks is Belarus government facing in Q1 2016?
What economic tasks is Belarus government facing in Q1 2016? Export growth, creation of new jobs and prevention of decrease in agricultural production volumes are the economic tasks the Belarus government is facing in Q1 2016. In recent years, it implemented a number of measures for macroeconomic balancing. As a result, during the first months of 2016, balance has been achieved in domestic foreign exchange market and the size of foreign exchange reserves was kept. Moreover, about 7,000 people were employed through the creation of new industries.

10.04.2016

Belarus Premier presents government's action program for 2016-2020
Belarus Premier presents government's action program for 2016-2020 Pragmatism of Belarus' relations with foreign countries should be based on the government's economic strategy. On Tuesday, Prime Minister Kobyakov presented in the Oval Hall the program of the government's activities for the coming years.

05.04.2016

Belarus economy to retain social orientation: Government action program to be reviewed April 5
Belarus economy to retain social orientation: Government action program to be reviewed April 5 The program of government activities up to 2020 will be reviewed by Belarusian MPs on April 5. The document will be presented by Prime Minister of Belarus Andrei Kobyakov. The program states that the economy will retain its social orientation. The growth of real incomes of Belarusians will be predetermined by GDP figures, labor productivity and will equal at least 110% over five years.

03.03.2016

the Economic Standing Committee
Belarus GDP up 6% over past 5 years The GDP of Belarus increased by almost 6% over the past 5 years. The Economic Standing Committee organized a meeting at the Belarus House of Representatives on March 3. The Parliament received the Government's agenda for the period up to the year 2020. The deputies will review the document on the next session in spring. It was mentioned on the meeting that the immediate goal is the efficiency of the domestic resource use and inward foreign direct investment. In general, the government intends to boost the economy on the three levels.

18.01.2016

World economy going through difficult times: What is financial outlook for Belarus?
World economy going through difficult times: What is financial outlook for Belarus? The world economy is going through hard times. One of the main indicators of the global economic processes - the price of black gold - last week continued its rapid decline, which was immediately reflected in other financial and economic indicators, including exchange rates.

20.12.2015

National Bank of Belarus
Belarus' monetary policy guidelines 2016 The Belarus President has approved the main directions of the monetary policy of Belarus for 2016. The corresponding decree was signed by the Head of State on 18 December. The main goal is to reduce inflation to 12%. Belarus will conduct a flexible exchange rate policy, which means dynamism of the exchange rate on the basis of supply and demand in the foreign exchange market.

13.12.2015

Economic growth without social shocks: Belarus President about 2016 budget
Economic growth without social shocks: Belarus President about 2016 budget The Belarusian President, Alexander Lukashenko, held on Monday a major meeting to discuss the 2016 budget and future macroeconomic policy of Belarus. External factors do not allow building optimistic forecasts. But Belarus is not going to go with the flow. There are still reserves. Belarus needs to mobilize all forces and resources. This is perhaps the main demand of the head of state.

07.12.2015

Belarus set for hard budget constraints in 2016
Belarus set for hard budget constraints in 2016 To mobilize all resources to boost the economy. The prospects of socio-economic development for 2016 were discussed at a meeting hosted by the head of state. Alexander Lukashenko noted that not all measures to ensure the economic stability are being realized. Belarus is going to mobilize all available forces and resources. It will create a good environment for investment to comply with all social guarantees and to develop the industry.

14.08.2015

Belarus' government reviews economic performance in H1 2015
Belarus' government reviews economic performance in H1 2015 Balanced foreign trade, stabilization of foreign exchange reserves and a slowdown in inflation in Belarus. Results of the socio-economic development of Belarus for the first half was summed up today, on August 14, by the government. The economy is in a difficult external environment. And yet, the country timely pays off foreign debts and ensures the growth of export. Budget revenues amounted to 4.5 percent of GDP.