GDP in Belarus grew by 2.4%, defying the expectations of a continuing recession. Thanks to an improvement in the external environment, manufacturing output and exports rebounded strongly. Tighter macroeconomic policies contributed to a shrinking of the current account deficit and a lowering of inflation expectations. Inflation reached a historic low in 2017. The short-term prospects have improved and positive economic growth should continue in the coming years.

map Belarus
Main Economic Indicators201520162017201820192020
Population, 1000 persons949095029498...
GDP, real change in %-3.8-
GDP per capita (EUR at PPP)139001340013800...
Gross industrial production, real change in %-6.6-0.46.1...
Unemployment rate reg., in %, end of period1.
Average gross monthly wages, EUR377328373...
Consumer prices, % p.a.13.511.
Fiscal balance in % of GDP1.41.51.0...
Public debt in % of GDP53.053.948.0...
Current account in % of GDP-3.3-3.5-1.7-3.4-3.3-3.4
FDI inflow, EUR mn150611331128...
Gross external debt in % of GDP69.483.369.4...

Basic data are continuously updated.

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


BELARUS: Improving external environment supports modest growth

Rumen Dobrinsky
in: Riding the Global Growth Wave
wiiw Forecast Report No. Spring 2018, March 2018 , pp. 72-76
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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, August 2017
27 pages including 1 Table and 2 Figures