Belarus | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 1.00 1.2 1.2 1.2 1.2 1.1 percent [+]
Inflation Rate 10.60 9.4 9.1 8.5 8 5.8 percent [+]
Interest Rate 17.00 14 12 10 8 4 percent [+]
Balance of Trade -340.90 -207 -306 -208 -306 -306 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 19560.00 19800 20000 20200 20400 23300 [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Annual Growth Rate -3.40 -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 1.00 1.2 1.2 1.2 1.2 1.1 percent [+]
Employed Persons 4383.30 4380 4378 4378 4377 4377 Thousand [+]
Unemployed Persons 36.10 33.13 33.19 33.34 33.38 33.37 Thousand [+]
Wages 717.60 729 734 739 743 782 BYN/Month [+]
Wage Growth 6.33 6.17 6.01 6.02 6 5.95 percent [+]
Minimum Wages 2300000.00 2300000 2300000 2300000 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 [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate 10.60 9.4 9.1 8.5 8 5.8 percent [+]
Core Consumer Prices 101.10 101 101 101 101 101 Index Points [+]
Producer Prices 101.00 100 100 100 100 100 Index Points [+]
Producer Prices Change 9.10 7.06 6.48 6.21 6.07 5.93 percent [+]
Inflation Rate Mom 0.50 0.84 0.8 0.8 0.8 0.8 percent [+]
Food Inflation 10.40 12.21 12.36 12.36 12.35 12.35 percent [+]
MONEY Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Interest Rate 17.00 14 12 10 8 4 percent [+]
Money Supply M0 1790.62 1655 1644 1642 1643 1643 BYN Million [+]
Money Supply M1 5324.57 5246 5308 5306 5327 5326 BYN Million [+]
Money Supply M2 10807.73 11067 11053 11041 11051 11068 BYN Million [+]
Money Supply M3 33934.97 34013 34365 34676 34913 36743 BYN Million [+]
Foreign Exchange Reserves 4927.00 4994 4976 4993 4982 4986 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 -340.90 -207 -306 -208 -306 -306 USD Million [+]
Exports 1966.90 1986 1986 1986 1986 1986 USD Million [+]
Imports 2307.80 2246 2248 2247 2247 2247 USD Million [+]
Current Account 223.40 -810 -200 -46.99 -346 -316 USD Million [+]
Current Account to GDP -3.80 -6.51 -6.01 -5.52 -5.02 -5.87 percent [+]
External Debt 37978.40 37881 37970 37786 37896 37755 USD Million [+]
Capital Flows 331.30 -577 -52.78 25.51 192 -33 USD Million [+]
Gold Reserves 43.58 42.84 41.9 42.53 42.72 42.42 Tonnes [+]
Terrorism Index 1.36 1.12 0.98 0.85 0.72 0.56 [+]
Tourist Arrivals 276260.00 161242 180675 200107 219540 155595 [+]
Weapons Sales 14.00 121 119 118 93.27 98.55 USD Million [+]
Remittances 125.40 118 123 131 134 129 USD Million [+]
Crude Oil Production 25.00 25.12 25.12 25.12 25.12 25.12 BBL/D/1K [+]
Foreign Direct Investment 117.80 531 270 72.23 301 261 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 766.00 37035 73075 90641 99274 106903 BYN Thousand [+]
Government Spending 2765.90 2769 2770 2770 2770 2770 BYN Billion [+]
Government Revenues 2603473.00 2469186 2568293 2531732 2615591 2685790 BYN Thousand [+]
Government Debt 36802660.00 37920367 38740581 39410068 40025936 44047314 BYN Thousand [+]
Fiscal Expenditure 2602707.00 2427772 2422757 2426649 2427008 2425289 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 -0.90 -4.93 -5.98 -6.19 -6.57 -4.14 percent [+]
Industrial Production Mom 1.90 0.24 0.42 0.61 0.65 0.67 percent [+]
Manufacturing Production -0.60 -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 205.00 197 196 195 196 196 Thousand Tonnes [+]
Mining Production 0.00 2.31 3.71 4.38 4.58 4.48 percent [+]
Leading Economic Index -2.70 -2.68 -2.64 -2.65 -2.64 -2.64 percent [+]
Ease of Doing Business 37.00 50.15 49.34 48.53 47.72 51.23 [+]
Corruption Index 32.00 31.75 31.94 32.13 32.32 32.5 Points [+]
Corruption Rank 107.00 110 107 103 99.82 84.98 [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Consumer Spending 10423.70 9982 9982 9982 9982 9982 BYN Billion [+]
Consumer Credit 1668.40 1721 1721 1716 1714 1714 BYN Million [+]
Retail Sales Mom -4.40 0.02 -0.26 0.11 0 0.02 percent [+]
Retail Sales Yoy -7.00 -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. 1/17/2017