Report
Research Team

Belarus Coverage Jan 2 - 21

Fitch affirms B sovereign rating, outlook stable
IMF forecasts slowdown to 2.4% this year, 2.8% next year
GDP growth picks up to 3% in 2018
Industrial output growth slows to 5.7% in 2018
Retail trade jumps 8.4% in 2018
EU partnership plan provides for EUR 1.2bn investment in transport network by 2030
Real disposable income growth picks up further to 8.4% y/y in January-November
Industrial PPI inflation flat at 6.4% y/y in December
Broad money supply growth picks up to 8.5% y/y in December
CPI inflation accelerates to 5.6% y/y in December
Foreign trade back in surplus in November - central bank
EBRD to buy into two banks in H1 2019
GDP growth accelerates to 3.4% in 2018 – World Bank
Government to repay USD 3.5bn to foreign creditors in 2019
Central bank reserves down USD 0.3bn to USD 7.2bn in December
Merchandise trade gap narrows further y/y in November, as imports fall – preliminary
Budget again in surplus in November
Government debt up another BYN 0.5bn m/m to BYN 45.6bn in November
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