IMF Staff Country Reports

Republic of Belarus : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Belarus

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

January 17, 2019

Electronic Access:

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Summary:

The Belarusian economy is in a cyclical recovery, inflation is at historically low levels and the exchange rate has been broadly stable. Although macroeconomic policy frameworks have improved, there is a need to reduce deep seated vulnerabilities such as rapidly rising public debt, high dollarization, and limited trade and financing diversification. In addition, reforms of the large state-owned enterprise sector are critical to tackle inefficiencies and increase potential growth. Risks ahead are elevated; notably, Belarus could lose significant oil-related discounts and transfers due to internal tax changes in Russia, but the authorities are confident of a successful outcome to the ongoing negotiations.

Series:

Country Report No. 19/9

Subject:

Article IV consultation reports Balance of payments Central Banks Debt sustainability analysis Dollarization Economic indicators Energy taxes Financial and Monetary Sector Financial regulation and supervision Fiscal policy Fiscal reforms Hydrocarbons Inflation targeting Monetary policy Press releases Real sector Staff reports