Country risk rating


HIGH RISK for entreprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • 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

Contact Euler Hermes

Economic Research Team