The Belarus economy is undergoing a painful adjustment and a prolonged recession. In 2016, GDP plunged by 2.6%, after falling by 3.8% the previous year. A dispute with Russia over the pricing of gas provoked Russia to reduce its oil supplies, which hit the Belarusian processing industry and exports. At the same time, a change in policy helped lower inflation. The final months of the year brought some positive signs that growth may resume in the coming years.

map Belarus
Main Economic Indicators201420152016201720182019
Population, 1000 persons.947594909502...
GDP, real change in %1.7-3.8-
GDP per capita (EUR at PPP)139001370013500...
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.18.113.511.810.09.08.0
Fiscal balance in % of GDP1.31.41.0...
Public debt in % of GDP38.438.739.2...
Current account in % of GDP-6.7-3.3-3.6-3.5-4.4-4.5
FDI inflow, EUR mn144515061131...
Gross external debt in % of GDP54.169.484.0...

Basic data are continuously updated.

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


BELARUS: Turning the corner?

Rumen Dobrinsky
in: Cautious Upturn in CESEE: Haunted by the Spectre of Uncertainty
wiiw Forecast Report No. Spring 2017, , pp. 46-50
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