Country risk rating
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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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 60.3bn (World ranking 78, World Bank 2020) |
Population | 9.4mn (World ranking 95, World Bank 2020) |
Form of state | Presidential republic |
Head of state | Alexander Lukashenko (President) |
Next elections | 2023, legislative |

- 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
LATEST NEWS ABOUT BELARUS
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Global trade: Battling out of demand and price shocks
25 March
The invasion of Ukraine and renewed Covid-19 outbreaks in China are hitting global trade with a double whammy in 2022: lower volumes and higher prices.
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Russian dolls: unwrapping corporate (commodity) dependencies
22 March
If oil and energy prices, as well as non-energy commodity prices, remain high, the metals and power sectors are most at risk of a profitability shock.
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Economic Outlook: Energy, trade and financial shockwaves
18 March
Allianz Research now expects global GDP growth of +3.3% in 2022 and +2.8% in 2023 as the Russian invasion of Ukraine raises geopolitical risks.
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