Republic of Belarus: 2007 Article IV Consultation-Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Belarus

September 10, 2007

Preview Citation

Format: Chicago

Republic of Belarus: 2007 Article IV Consultation-Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Belarus, (USA: International Monetary Fund, 2007) accessed September 19, 2024

Also available in: русский

Summary

This 2007 Article IV Consultation highlights that Belarus’s centralized economy grew rapidly over the past few years, enhancing social development. The state redistributed large and growing terms-of-trade gains stemming from favorable Russian energy pricing across the economy, boosting domestic demand. A new energy agreement, however, has abruptly reversed terms-of-trade gains. Belarus now pays Russia twice as much for gas supplies as in 2006 and a fifth more as a share of world market prices for crude oil. This resulted in an estimated loss of 5½ percent of GDP in 2007.

Subject: Credit, Energy prices, External debt, Fiscal policy, Inflation, Money, Prices

Keywords: CR, Credit, Deficit, Eastern Europe, Energy prices, Europe, General government operation, Global, Inflation, Inflation pressure, ISCR, Monetary policy guideline, Staff appraisal, Terms-of-trade gain

Publication Details

Pages:

63
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2007/310
Stock No:

1BLREA2007002
ISBN:

9781451805277
ISSN:

1934-7685

Notes

Also available in Russian

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