Contact Euler Hermes
Economic Research Team
research@eulerhermes.com
BELARUS
Country risk rating
D4
HIGH RISK for entreprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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| GDP | USD 59.7bn (World ranking 78, World Bank 2018) |
| Population | 9.49mn (World ranking 94, World Bank 2018) |
| Form of state | Republic in name (although highly authoritarian regime) |
| Head of government | Aleksandr LUKASHENKO (President) |
| Next elections | 2020, presidential |
- Well-educated and relatively cheap workforce
- Member of the Eurasian Economic Union, providing access to the Russian and Kazakh markets
- Fiscal deficit has been in moderate over the last few years
- Business-unfriendly, Soviet-style political and eco¬no¬mic system. Hardly reform progress
- International isolation. U.S. and EU sanctions
- High economic dependence on Russia, especially on energy and financial support
- Exchange rate volatility and vulnerability to sudden, sharp depreciation
- Persistently low level of foreign exchange reserves (less than two months of import cover)
- High external debt
- Highly sensitive to commodity prices
- Generally weak business environment