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The economy of Belarus

Belarus has enjoyed a strong economic growth since its independence in 1992, with its export-led development carefully managed to balance growth with social responsibility.

Key measures

  • GDP:  Gross domestic product grew at an average rate of 8.7% a year between 2002 and 2008, and the economy has continued to expand despite the global slowdown.
    Year-on-year growth to February 2009 was 2.3% and the International Monetary Fund forecasts 1.6% in 2010 rising to 5.7% by 2014.

  • Inflation:  Consumer Price Inflation in 2010 was forecast to be 8-10%. In 2009 it amounted to 10,1%. 
  • Ratings:  Standard & Poor’s, the rating agency, has given Belarus a sovereign credit rating of B+, while Moody’s issued a B1 rating
  • National income:  Almost half of Belarus’ national income comes from the physical, manufacturing side of the economy, and around 40% is generated by the expanding service sector. Around two thirds (70%) of economic output comes from state-controlled enterprises
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