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.

map Belarus
Main Economic Indicators201320142015201620172018
Population, 1000 persons.946694759490...
GDP, real change in %1.01.7-3.9-
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, EUR428458374...
Consumer prices, % p.a.18.318.113.514.013.012.0
Fiscal balance in % of GDP0.21.32.0...
Public debt in % of GDP37.639.840.0...
Current account in % of GDP-10.5-6.9-3.9-2.5-2.7-2.9
FDI inflow, EUR mn170314451430...
Gross external debt in % of GDP52.556.072.0...

Basic data are continuously updated.

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


BELARUS: Recession continues

Rumen Dobrinsky
in: Growth Stabilises: Investment a Major Driver, Except in Countries Plagued by Recession
wiiw Forecast Report No. Spring 2016, , pp. 55-59
Details and Buy


Monthly Report No. 12/2015

Amat Adarov, Peter Havlik, Gabor Hunya, Leon Podkaminer and Roman Römisch
wiiw Monthly Report No. 12,
50 pages including 18 Figures