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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.

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 17 | May 2023

    Due to Russia’s war against Ukraine and the Western sanctions, Belarus experienced in 2022 the worst recession since the 1990s. The negative effects are strongly felt from a sectoral perspective, with the trade, transport and logistics sector as well as the ICT sector being hit extremely hard. Although governmental price controls allowed for containing inflation in the short term, significant risks remain in this area. With declining revenues, reduced access to international credits and default confirmed by international rating agencies, considerable problems with public finances are apparent, despite the lack of data. GET forecasts a further decline in economic output of 0.4% this year and expects growth of 3.4% next year. The main drivers of growth in the coming year will be positive net exports – due to an advancing reorientation of exports – and recovering domestic consumer demand.

Policy Publications

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