GDP in Belarus grew by 1% in the first half of 2017, thanks to the economic upturn in Russia and the settling of the gas dispute between the two countries. The resumption of normal oil deliveries from Russia enabled a rapid recovery in manufacturing and exports. A tight macroeconomic policy stance contributed to a reduction of inflation in Belarus to single-digit levels. GDP growth could reach 2% for the year as a whole and may strengthen further in 2018 and 2019.

map Belarus
Main Economic Indicators201420152016201720182019
Population, 1000 persons947594909502...
GDP, real change in %1.7-3.8-
GDP per capita (EUR at PPP)139001370013300...
Gross industrial production, real change in %2.0-6.6-0.4...
Unemployment rate reg., in %, end of period0.
Average gross monthly wages, EUR458377328...
Consumer prices, % p.a.18.113.511.
Fiscal balance in % of GDP1.31.41.5...
Public debt in % of GDP37.353.754.5...
Current account in % of GDP-6.7-3.3-3.5-2.6-2.9-3.0
FDI inflow, EUR mn144515061133...
Gross external debt in % of GDP54.169.483.3...

Basic data are continuously updated.

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


BELARUS: Recovery under way

Rumen Dobrinsky
in: CESEE Back on Track to Convergence
wiiw Forecast Report No. Autumn 2017, November 2017 , pp. 50-53
Details and Buy


Monthly Report No. 7-8/2017

Vasily Astrov, Rumen Dobrinsky, Vladimir Gligorov, Richard Grieveson, Doris Hanzl-Weiss, Peter Havlik, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2017
27 pages including 1 Table and 2 Figures