The recession in Belarus has continued for the second year running. GDP dropped by 2.5% in the first half of 2016. Balance of payments constraints have compelled Belarus to pursue macroeconomic austerity policies, which dampened economic activity. The country’s problems have been compounded by a dispute with Russia over gas prices. GDP growth in 2016 as a whole will be negative and the recession will most likely continue into 2017.

map Belarus
Main Economic Indicators201320142015201620172018
Population, 1000 persons.946694759490...
GDP, real change in %1.01.7-3.9-2.8-0.91.6
GDP per capita (EUR at PPP)133001370013500...
Gross industrial production, real change in %-4.92.0-6.6...
Unemployment rate reg., in %, end of period0.
Average gross monthly wages, EUR428458377...
Consumer prices, % p.a.18.318.113.512.011.010.0
Fiscal balance in % of GDP0.21.31.4...
Public debt in % of GDP37.639.840.0...
Current account in % of GDP-10.5-6.9-3.8-2.3-1.8-1.2
FDI inflow, EUR mn170314451506...
Gross external debt in % of GDP52.556.071.7...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


BELARUS: No end to the recession in sight

Rumen Dobrinsky
in: Labour Shortages Driving Economic Growth?
wiiw Forecast Report No. Autumn 2016, , pp. 47-50
Details and Buy


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,
25 pages including 1 Table and 1 Figure