Belarus - Raiffeisen Bank International AG

Country Profile: Belarus
Raiffeisen Research. As in August 2011.
Currency: Belarusian ruble (BYR)
Gross Domestic Product and Budget 2009 2010 2011e 2012f
Real GDP growth, % p.a. 0.2 7.6 6.0 4.0
Nominal GDP, €bn 35.3 41.2 31.3 26.0
Per capita GDP, PPP basis, € 3,700 4,400 3,300 2,700
Growth in industrial output, % p.a. –2.0 11.7 9.0 4.0
Consolidated budget surplus (deficit), % of GDP –0.7 –2.6 –4.0 –3.0
Inflation and Employment
Jobless rate, annual average, % 0.9 0.7 2.0 2.0
Average monthly gross wage, € 250 310 250 210
Consumer price inflation, annual average, % p.a. 12.9 7.7 40.0 50.0
Balance of Trade and Current Account
Goods exports, €bn 15.3 19.1 28.4 33.5
Goods imports, €bn 20.3 26.0 32.6 37.0
Current account deficit, €bn –4.6 –6.4 –4.0 –3.4
Current account deficit, % of GDP –13.0 –15.5 –12.7 –13.1
Foreign debt, % of GDP 43.6 51.5 85.2 112.4
Rates of Exchange and Interest Rates
Local currency/US$ (average) 2,793 2,979 5,700 10,000
Local currency/€ (average) 3,894 3,951 8,000 14,000
3-month money market rate (MINIBOR), average, % n.a. n.a. n.a. n.a.
Country Ratings
S&P B+
Moody's B1
Fitch Unrated
n.a.: not available.
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