There was a remarkable economic turnaround in Belarus: GDP surged by an unexpectedly high 5.1% in the first quarter. Economic activity picked up across the board thanks to an improving external environment and a positive policy impetus resulting from the loosening of wage policy. The short-term prospects for the Belarusian economy have improved and GDP could grow by some 4% in 2018. However, the room for policy support is limited and growth will likely moderate in the following 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 GDP1.41.53.0...
Public debt in % of GDP53.053.948.0...
Current account in % of GDP-3.3-3.4-1.6-2.6-3.0-3.1
FDI inflow, EUR mn150611331130...
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.


Monthly Report No. 6/2018

Vasily Astrov, Rumen Dobrinsky, 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. 6, June 2018
27 pages including 1 Table and 1 Figure



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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