NEW: 1 July 2016 denomination of the Belarusian rouble. Read more here
Belarus plunged into deep recession; GDP slumped by 4% in 2015. The crisis struck hard across the board, affecting all aspects of economic life, while policy-makers had little manoeuvring space in which to soften the blow. Short-term prospects are bleak as recession is likely to persist throughout 2016. A modest recovery may start in 2017, but it will be conditional on the revival of key export markets.
|Main Economic Indicators||2013||2014||2015||2016||2017||2018|
|Population, 1000 persons.||9466||9475||9490||.||.||.|
|GDP, real change in %||1.0||1.7||-3.9||-2.0||0.5||1.4|
|GDP per capita (EUR at PPP)||13300||13700||13500||.||.||.|
|Gross industrial production, real change in %||-4.9||2.0||-6.6||.||.||.|
|Unemployment rate reg., in %, end of period||0.5||0.5||1.0||2.0||2.5||2.5|
|Average gross monthly wages, EUR||428||458||377||.||.||.|
|Consumer prices, % p.a.||18.3||18.1||13.5||12.0||11.0||10.0|
|Fiscal balance in % of GDP||0.2||1.3||1.4||.||.||.|
|Public debt in % of GDP||37.6||39.8||40.0||.||.||.|
|Current account in % of GDP||-10.5||-6.9||-3.8||-1.8||-1.3||-1.0|
|FDI inflow, EUR mn||1703||1445||1506||.||.||.|
|Gross external debt in % of GDP||52.5||56.0||71.7||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Monthly Report No. 7-8/2016
Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Simona Jokubauskaite, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2016
25 pages including 1 Table and 1 Figure
BELARUS: Recession continues
in: Growth Stabilises: Investment a Major Driver, Except in Countries Plagued by Recession
wiiw Forecast Report No. Spring 2016, March 2016 , pp. 55-59 Details and Buy