Minimal increase forecasted for this year in Europe's last dictatorship
Is Russia willing to help Belarus?
Until recently, Belarussian economy could present a high economic growth rate which, among others, secured the position of president Alexander Lukashenko. But even the official economic forecast for 2014 contains a modest GDP growth number of 3.3% (compared with 8.5% forecast for 2013), while independent experts are more conservative and give forecasts of 1.5-2.5 per cent.
, so Belarus faces the possibility of a 2011-like currency crisis.
Manufacturing and agriculture in 2013 were declining, losing 4.8 and 4 %. Inflation exceeded the forecasted value and reached 18.3 per cent over 2013. Manufacturing and agriculture in 2013 were declining, loosing 4.8 and 4.0 %. Inflation exceeded the forecasted value and reached 18.3 per cent over 2013. The Russian 2 billion dollar loan (part of which is just a replacement for the last tranche from the Anti-Crisis Fund of the Eurasian Union) will help the monetary authorities keep the exchange rate from plummeting uncontrollably.
. Real wages grew 17 per cent in January-November, while labour productivity grew only 2.2 per cent in 2013.