Belarus | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 0.90 1.2 1.2 1.2 1.2 1.1 percent [+]
Inflation Rate 7.00 9.4 9.1 8.5 8 5.8 percent [+]
Interest Rate 15.00 14 12 10 8 4 percent [+]
Balance of Trade -493.30 -360 -458 -359 -459 -458 USD Million [+]
Government Debt to GDP 29.00 31.15 31.93 32.57 33.07 34.99 percent [+]
MARKETS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Currency 1.88 19756 19951 20147 20538 23472 [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Annual Growth Rate -1.90 -0.2 -0.3 0.5 0.2 1.6 percent [+]
GDP 54.61 61.54 64.66 60.49 67.85 76.47 USD Billion [+]
GDP Constant Prices 19972.10 18650 18650 18650 18650 18650 BYN Billion [+]
Gross Fixed Capital Formation 4554.40 4315 4274 4288 4283 4284 BYN Billion [+]
GDP per capita 6158.99 6280 6022 6117 6211 6603 USD [+]
GDP per capita PPP 16621.03 16259 16531 16507 16777 18542 USD [+]
GDP From Agriculture 5107.90 2388 -7467 -447 -382 0.44 BYR Billion [+]
GDP From Construction 14731.50 11388 14620 11442 14567 14284 BYR Billion [+]
GDP From Manufacturing 48167.70 45658 47682 48590 49366 48328 BYR Billion [+]
GDP From Mining 1485.50 1273 1370 1268 1270 1295 BYR Billion [+]
GDP From Public Administration 8529.50 7966 8510 7976 8500 8450 BYR Billion [+]
GDP From Transport 13776.60 13387 13927 14104 14284 16627 BYR Billion [+]
GDP From Utilities 9839.20 10663 11191 11360 11721 16046 BYR Billion [+]
LABOUR Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 0.90 1.2 1.2 1.2 1.2 1.1 percent [+]
Employed Persons 4367.20 4361 4350 4341 4333 4284 Thousand [+]
Unemployed Persons 37.60 42.78 46.32 46.58 46.32 46.24 Thousand [+]
Wages 720.70 760 765 773 782 862 BYN/Month [+]
Wage Growth 7.97 7.91 8.39 8.77 8.96 9.2 percent [+]
Minimum Wages 265.00 252 252 252 2530000 3310000 BYR/Month [+]
Population 9.50 9.49 9.5 9.51 9.52 9.59 Million [+]
Retirement Age Women 55.00 55 55 55 55 55 [+]
Retirement Age Men 60.00 60 60 60 60 60 [+]
Wages High Skilled 4500000.00 4500000 4500000 4500000 4500000 4500000 BYR/Month [+]
Wages Low Skilled 3000000.00 3100000 3100000 3100000 3100000 3100000 BYR/Month [+]
Living Wage Family 3973648.00 3967852 3967043 3966930 3966914 3966912 BYR/Month [+]
Living Wage Individual 2690489.00 2652252 2614703 2577828 2541616 2154642 BYR/Month [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate 7.00 9.4 9.1 8.5 8 5.8 percent [+]
Core Consumer Prices 100.20 101 101 101 101 101 Index Points [+]
Producer Prices 101.70 101 102 102 101 102 Index Points [+]
Food Inflation 10.10 9.59 9.4 9.39 9.39 9.39 percent [+]
Producer Prices Change 9.40 8.2 6.5 5.9 5 3.6 percent [+]
Inflation Rate Mom 0.90 0.73 0.75 0.76 0.76 0.76 percent [+]
MONEY Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Interest Rate 15.00 14 12 10 8 4 percent [+]
Money Supply M0 1730.28 1719 1684 1680 1685 1687 BYN Million [+]
Money Supply M1 4843.29 4835 4782 4704 4746 4739 BYN Million [+]
Money Supply M2 10544.29 10308 10109 10097 10112 10141 BYN Million [+]
Money Supply M3 32800.09 33145 33169 33264 33217 33238 BYN Million [+]
Foreign Exchange Reserves 5022.30 5065 5058 5078 5065 5070 USD Million [+]
Deposit Interest Rate 11.00 11.48 11.91 11.94 11.86 11.84 percent [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade -493.30 -360 -458 -359 -459 -458 USD Million [+]
Exports 1755.90 1789 1761 1758 1758 1758 USD Million [+]
Imports 2030.80 2271 2243 2245 2246 2246 USD Million [+]
Current Account -603.20 -955 -284 -110 -488 -430 USD Million [+]
Current Account to GDP -3.70 -6.49 -6 -5.5 -5.01 -5.87 percent [+]
External Debt 37567.40 37072 36956 36600 36551 35856 USD Million [+]
Capital Flows 475.40 -375 112 112 357 124 USD Million [+]
Gold Reserves 46.16 45.34 43.81 44.18 45.43 46.37 Tonnes [+]
Weapons Sales 14.00 121 119 118 93.27 98.55 USD Million [+]
Terrorism Index 1.36 1.12 0.98 0.85 0.72 0.56 [+]
Tourist Arrivals 276260.00 161242 180675 200107 219540 155595 [+]
Foreign Direct Investment 117.80 531 270 72.23 301 261 USD Million [+]
Crude Oil Production 25.00 25.12 25.12 25.12 25.12 25.12 BBL/D/1K [+]
Remittances 63.30 62.59 67.36 64.13 66.35 65.47 USD Million [+]
GOVERNMENT Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Government Debt to GDP 29.00 31.15 31.93 32.57 33.07 34.99 percent [+]
Government Budget 1.80 0.27 0.35 0.43 0.5 0.65 percent of GDP [+]
Government Budget Value 401096.00 -172208 -62605 55.75 35436 80892 BYN Thousand [+]
Government Spending 2765.90 2769 2770 2770 2770 2770 BYN Billion [+]
Government Revenues 2626358.00 2482949 2578775 2514191 2600593 2625842 BYN Thousand [+]
Government Debt 36591936.00 36825752 37292524 37637298 37938157 39646480 BYN Thousand [+]
Fiscal Expenditure 2225262.00 2607346 2479587 2531286 2543252 2539992 BYN Thousand [+]
Military Expenditure 978.90 1000 995 990 996 1006 USD Million [+]
Government Spending To GDP 28.80 31.26 31.97 32.69 33.4 42.76 percent of GDP [+]
BUSINESS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Industrial Production 3.10 3.66 4.69 5.01 5.12 5.2 percent [+]
Industrial Production Mom 1.30 0.24 0.42 0.61 0.65 0.67 percent [+]
Manufacturing Production -0.10 -1.9 -0.1 0.7 0.22 1.12 percent [+]
Changes in Inventories 891.50 422 148 292 216 242 BYN Billion [+]
Steel Production 200.00 197 196 195 196 196 Thousand Tonnes [+]
Corruption Index 40.00 35 38 40 43 41 Points [+]
Corruption Rank 79.00 110 107 103 99.82 84.98 [+]
Ease of Doing Business 37.00 50.15 49.34 48.53 47.72 51.23 [+]
Mining Production -0.70 2.31 3.71 4.38 4.58 4.48 percent [+]
Leading Economic Index -1.00 -0.79 -0.79 -0.78 -0.78 -0.78 percent [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Consumer Spending 10423.70 9982 9982 9982 9982 9982 BYN Billion [+]
Consumer Credit 1722.70 1739 1729 1720 1717 1719 BYN Million [+]
Retail Sales Mom 19.80 0.02 -0.26 0.11 0 0.02 percent [+]
Retail Sales Yoy -5.80 -7.32 -7.47 -7.51 -7.53 -7.54 percent [+]
Gasoline Prices 0.60 0.59 0.59 0.59 0.59 0.58 USD/Liter [+]
TAXES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Corporate Tax Rate 18.00 18 18 18 18 18 percent [+]
Personal Income Tax Rate 13.00 13 13 13 13 13 percent [+]
Sales Tax Rate 20.00 20 20 20 20 20 percent [+]
Social Security Rate 35.00 35 35 35 35 35 percent [+]
Social Security Rate For Companies 34.00 34 34 34 34 34 percent [+]
Social Security Rate For Employees 1.00 1 1 1 1 1 percent [+]





Economic Forecasts for Belarus including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Belarus economy. 3/22/2017