## Republic of Belarus: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Belarus

_IMF Staff Country Reports, December 18, 2017_

## Source details

**Canonical URL:** [Republic of Belarus: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Belarus](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)

## Other formats

- [Markdown version](/en/publications/cr/issues/2017/12/18/republic-of-belarus-2017-article-iv-consultation-press-release-staff-report-and-statement-by-45488/index.md)
- [Structured JSON version](/en/publications/cr/issues/2017/12/18/republic-of-belarus-2017-article-iv-consultation-press-release-staff-report-and-statement-by-45488/index.json)
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## Bibliographic details
- Published: December 18, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484333273.002

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### Economic recovery and drivers
- 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.

### External sector and current account
- 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 outlook and constraints
- Medium-term growth is expected to be about 2 percent.
- Growth is constrained by:
  - negative demographics,
  - weak credit conditions,
  - lagging competitiveness under the state-centric economic model.

### Subject coverage and keywords (as listed)
- 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

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## Content in this bundle

- **Country Report**
  - [Country Report (Markdown version)](/-/media/files/publications/cr/2017/cr17383.pdf.md){rel="alternate" type="text/markdown"}
  - [Country Report (PDF)](/-/media/files/publications/cr/2017/cr17383.pdf){rel="external" type="application/pdf"}

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_Source: 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_