Belarus

map Belarus
The economy is in recession, as the impact of the war in Ukraine has been amplified by the new Western sanctions. The authorities have adopted some policy measures aimed at damping the shocks and have negotiated new support agreements with Russia. Public finances have been under considerable strain, inflation has kept rising, and problems have also emerged over the servicing of the external debt. GDP is expected to fall by 4.5% in 2022, and the prospects for the coming years remain bleak.
        FORECAST*
Main Economic Indicators201920202021202220232024
Population, 1000 persons942093809303...
GDP, real change in %1.4-0.72.3-4.51.02.0
GDP per capita (EUR at PPP)136701352014540...
Gross industrial production, real change in %1.0-0.76.5...
Unemployment rate - LFS, in %, average4.24.03.94.14.04.0
Average gross monthly wages, EUR468450482...
Consumer prices, % p.a.5.65.59.517.012.011.0
Fiscal balance in % of GDP2.4-1.70.2-4.0-2.0-1.0
Public debt in % of GDP41.047.541.2...
Current account in % of GDP-1.9-0.33.22.21.81.4
FDI inflow, EUR m113912211044...
Gross external debt in % of GDP63.263.864.1...


Basic data are continuously updated.

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

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Executive summary

Branimir Jovanović
in: Bracing for the Winter
wiiw Forecast Report No. Autumn 2022, October 2022 , pp. I-VIII
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Monthly Report No. 7-8/2022

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Selena Duraković, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Branimir Jovanović, Niko Korpar, Sebastian Leitner, Isilda Mara, Bernhard Moshammer, Olga Pindyuk, Sandor Richter, Bernd Christoph Ströhm, Maryna Tverdostup, Nina Vujanović, Zuzana Zavarská and Adam Żurawski
wiiw Monthly Report No. 7-8, July-August 2022
58 pages including 4 Tables and 21 Figures

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