Media/news


Patrick J. Kelly| 28.05.2014
Emerging Market Liberalization and Monetary Control
The Fourth International Conference in Economics and Finance
| 26.05.2014
A New Loan From Russia - A Temporary Lifejacket - Belarus Digest
The growth rate of inflation in the 1st quarter of 2014 amounted to 6.6% and made plans for reaching the official targets for annual inflation highly unlikely. Despite this, a gradual reduction in refinancing rates with a second round of cuts has been preserved. It was also accompanied fixing the maximum rate of ruble loans at a rate of 39.4% for companies.
| 05.05.2014
National Bank Reduces Refinancing Rate - Belarus Economy Digest
This April the National Bank decided to its reduce refinancing rate, which has remained unchanged for the past 10-months. This measure is, to some degree, a helping hand for the real sector that is facing significant difficulties at present. However, despite their best intentions, this move may actually lead to serious imbalances and create additional pressure on the national currency.
14.04.2014
External Environment Poses New Risks For The Belarusian Economy
Economic performance during first two months of 2014 has been rather disappointing. First, almost all industries reduced their output which led to a decline in GDP by 1.6% year-on-year in January-February.  Second, Belarus has faced new challenges on foreign markets, which are a consequence of capital outflows and weakening growth in Russia.
06.03.2014
Belarus: a Chance to Convert Past Mistakes into New Advantages
Belarus is often treated as ‘terra incognita’ even among its neighbors. Indeed, the development path of the country is severely distinct from other CEE countries. In terms of long-term growth, majority of transition countries during the last decade fell back upon the growth of TFP (total factor productivity, i.e. technology and efficiency) being accompanied with reasonable growth of capital. Belarus, in turn, secured its growth almost entirely due to accumulation of capital, while productivity gains were extremely poor, especially in tradable sector.