This policy paper deals with the perspectives of the national economy development in 2018-2020. The study emphasizes that fluctuations around equilibrium growth rate is the most likely scenario. The study uses the estimate of 2.5% of equilibrium growth rate for Belarus, which is a compromise among different approaches and methodologies. The scenario of higher growth may become possible due to positive external shocks. However, even in case of permanently strengthening external environment, the growth rate of the national economy is still likely to be unsustainable.

This policy paper deals with Belarusian macroeconomic situation in 2017. The study admits that a long period of adjustment to new institutional environment, which was associated with structural slowdown, has ended in 2017 and catch-up growth began. This growth mainly stemmed from favorable external environment. The policies enhancing price and external stability also contributed into growth. In 2017, Belarus has displayed historical (or 10 year) records in inflation rate and current account balance. This allowed quitting from restrained economic policies thus emancipating domestic demand.

BEROC presents the Economic Outlook - the Fourth Quarter 2017.

We have conducted the number of interviews with female entrepreneurs and top managers of Belarusian companies.

In 2016, potential investors’ interest in Belarus continued to decline. The problem of access to financing in the form of loans was growing, affecting the possibility of floating sovereign Eurobonds internationally. There were signs that the government finally realized that the country needed a better image to foster investment and issued a number of bills to facilitate raising funds.

Foreign Investment: Measures to Improve the Investment Climate

This paper looks at the effects of the trade war that followed 2014 events in Ukraine on Eurasian Customs Union (EACU).