{
  "title": "Republic of Belarus: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Belarus",
  "publication": "IMF Staff Country Reports, December 18, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/12/18/republic-of-belarus-2017-article-iv-consultation-press-release-staff-report-and-statement-by-45488",
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  "summary": "This 2017 Article IV Consultation highlights that the Belarusian economy is recovering after two years of recession, helped by better policies, a more favorable external environment, and stronger domestic demand conditions. In 2017Q3, the economy grew by 1.",
  "sections": [
    {
      "heading": "Economic recovery and drivers",
      "content": "- The Belarusian economy is recovering after two years of recession, helped by better policies, a more favorable external environment, and stronger domestic demand conditions.\n- In 2017Q3, the economy grew by 1.7 percent year-on-year.\n- Household consumption was boosted by strong wage growth and recovering investment."
    },
    {
      "heading": "External sector and current account",
      "content": "- The current account deficit has narrowed.\n- Narrowing reflects growth in services exports, as well as recession and real exchange rate adjustment in 2015–16."
    },
    {
      "heading": "Medium-term outlook and constraints",
      "content": "- Medium-term growth is expected to be about 2 percent.\n- Growth is constrained by:\n  - negative demographics,\n  - weak credit conditions,\n  - lagging competitiveness under the state-centric economic model."
    },
    {
      "heading": "Subject coverage and keywords (as listed)",
      "content": "- Subjects: Banking, Credit, Economic and financial statistics, Economic sectors, External debt, Government finance statistics, Labor, Money, Public enterprises\n- Keywords: Baltics, Belarusian authorities, Belarusian economy, CR, Credit, deficit, Eastern Europe, economy, Global, government, Government finance statistics, headline inflation, IMF staff estimate, ISCR, near-term financing pressure, Public enterprises, recession\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: December 18, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484333273.002",
    "The Belarusian economy is recovering after two years of recession, helped by better policies, a more favorable external environment, and stronger domestic demand conditions.",
    "In 2017Q3, the economy grew by 1.7 percent year-on-year.",
    "Household consumption was boosted by strong wage growth and recovering investment.",
    "The current account deficit has narrowed.",
    "Narrowing reflects growth in services exports, as well as recession and real exchange rate adjustment in 2015–16.",
    "Medium-term growth is expected to be about 2 percent.",
    "Growth is constrained by:",
    "Subjects: Banking, Credit, Economic and financial statistics, Economic sectors, External debt, Government finance statistics, Labor, Money, Public enterprises",
    "Keywords: Baltics, Belarusian authorities, Belarusian economy, CR, Credit, deficit, Eastern Europe, economy, Global, government, Government finance statistics, headline inflation, IMF staff estimate, ISCR, near-term financing pressure, Public enterprises, recession",
    "**Country Report**"
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