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Compared to other countries in the post-Soviet space, the Belarusian economy was not fully liberalised after 1991.

Important economic sectors in Belarus are characterised by strong planned economy elements and remain state-dominated. These include, above all, agriculture and industry. However, the country also has a successful IT sector, which represents a kind of liberal enclave. In the context of Russia’s ongoing war of aggression against Ukraine and the associated relocation of Belarusian IT companies abroad, the once successful IT sector is currently shrinking massively.

Due to the current political context, GET has suspended its economic policy advice for Belarus. We continue to closely monitor the economic situation and the impact of sanctions. In addition to that, current advisory activities are focused on increased engagement with Belarusian civil society and its bodies, the Belarusian business diaspora in the EU (e.g. the Association of Belarusian Business Abroad (“ABBA”)), economic policy think tanks, as well as with German companies and their associations.




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Economic Monitors

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  • Economic Monitor Belarus

    WA 18 | November 2023

    After a strong recession in 2022, the Belarusian economy grew by 3.5% in 9M2023. Due to the declining base effect and low growth potential, GET expects a slowdown in the growth pace (2.0% in 2023), which will be followed by economic stagnation (0.1% in 2024). Inflation is currently very low (2.0% in Sep-23), but the medium-term outlook is uncertain as the current low rate depends on price controls. Foreign trade is characterised by increasing dependence on Russia.

Policy Publications

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