Читать книгу The 2009 CIA World Factbook - United States. Central Intelligence Agency - Страница 184

Flag description:

red horizontal band (top) and green horizontal band one-half the width of the red band; a white vertical stripe on the hoist side bears Belarusian national ornamentation in red; the red band color recalls past struggles from oppression, the green band represents hope and the many forests of the country

Economy ::Belarus

Economy - overview:

Belarus has seen little structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKASHENKO reimposed administrative controls over prices and currency exchange rates and expanded the state's right to intervene in the management of private enterprises. Since 2005, the government has re-nationalized a number of private companies. In addition, businesses have been subject to pressure by central and local governments, e.g., arbitrary changes in regulations, numerous rigorous inspections, retroactive application of new business regulations, and arrests of "disruptive" businessmen and factory owners. A wide range of redistributive policies has helped those at the bottom of the ladder; the Gini coefficient is among the lowest in the world. Because of these restrictive economic policies, Belarus has had trouble attracting foreign investment. Nevertheless, government statistics indicate GDP growth has been strong in recent years, reaching 10% in 2008, despite the roadblocks of a tough, centrally directed economy with a high rate of inflation. Belarus receives discounted oil and natural gas from Russia and much of Belarus' growth can be attributed to the re-export of Russian oil at market prices. Trade with Russia - by far its largest single trade partner - decreased in 2007–08, largely as a result of a change in the way the Value Added Tax (VAT) on trade was collected. Russia has introduced an export duty on oil shipped to Belarus, which will increase gradually through 2009, and a requirement that Belarusian duties on re-exported Russian oil be shared with Russia - 80% was slated to go to Russia in 2008, and 85% in 2009. Russia also increased Belarusian natural gas prices from $47 per thousand cubic meters (tcm)in 2006 to $100 per tcm in 2007, and to $128 per tcm in 2008, and plans to increase prices gradually to world levels by 2011. Russia's recent policy of bringing energy prices for Belarus to world market levels may result in a slowdown in economic growth in Belarus over the next few years. Some policy measures, including improving energy efficiency and diversifying exports, have been introduced, but external borrowing has been the main mechanism used to manage the growing pressures on the economy. Belarus felt the effects of the global financial crisis in late 2008 and reached agreement with Russia in November for a $2 billion stabilization loan and with the IMF for a $2.5 billion stand-by agreement in January 2009. In line with IMF conditionality, Belarus devalued the ruble approximately 20% in January 2009 and has tightened some fiscal and monetary policies. Belarus's economic growth is likely to slow in 2009 as it faces decreasing demand for its exports, and will find it difficult to increase external borrowing if the credit markets continue to tighten.

GDP (purchasing power parity):

$114.3 billion (2008 est.) country comparison to the world: 62 $103.9 billion (2007 est.)

$96.06 billion (2006 est.)

note: data are in 2008 US dollars

GDP (official exchange rate):

$60.3 billion (2008 est.)

GDP - real growth rate:

10% (2008 est.) country comparison to the world: 11 8.2% (2007 est.)

9.9% (2006 est.)

GDP - per capita (PPP):

$11,800 (2008 est.) country comparison to the world: 93 $10,700 (2007 est.)

$9,800 (2006 est.)

note: data are in 2008 US dollars

GDP - composition by sector:

agriculture: 8.5%

industry: 41.2%

services: 50.3% (2008 est.)

Labor force:

4.869 million (2007) country comparison to the world: 77

Labor force - by occupation:

agriculture: 14%

industry: 34.7%

services: 51.3% (2003 est.)

Unemployment rate:

1.6% (2005) country comparison to the world: 12 note: officially registered unemployed; large number of underemployed workers

Population below poverty line:

27.1% (2003 est.)

Household income or consumption by percentage share:

lowest 10%: 3.6%

highest 10%: 22% (2005)

Distribution of family income - Gini index:

27.9 (2005) country comparison to the world: 122 21.7 (1998)

Investment (gross fixed):

31.9% of GDP (2008 est.) country comparison to the world: 19

Budget:

revenues: $25.15 billion

expenditures: $25.97 billion (2008 est.)

Inflation rate (consumer prices):

14.8% (2008 est.) country comparison to the world: 188 8.4% (2007 est.)

Central bank discount rate:

12% (31 December 2008) country comparison to the world: 37 10% (31 December 2007)

Commercial bank prime lending rate:

8.55% (31 December 2008) country comparison to the world: 99 8.58% (31 December 2007)

Stock of money:

$4.872 billion (31 December 2008) country comparison to the world: 55 $4.065 billion (31 December 2007)

Stock of quasi money:

$8.784 billion (31 December 2008) country comparison to the world: 55 $6.823 billion (31 December 2007)

Stock of domestic credit:

$18.42 billion (31 December 2008) country comparison to the world: 60 $12.16 billion (31 December 2007)

Market value of publicly traded shares: