Member countries

Belarus

Belarus is the EFSD founding state:

  • Belarus’s contribution to the EFSD is US$10 million;
  • Belarus’s access limit in the EFSD is US$1787.73 million (21% of total assets of

the Fund).

The authorized representative of Belarus in the EFSD Council is the Minister of Finance of the Republic of Belarus — Maxim L. Ermolovich.

The Member of the Expert Council from Belarus is the Head of the Directorate for International Financial Relations, Ministry of Finance of Belarus - Pavel P. Shulga.

Belarus is member of the Eurasian Economic Union since 1 January 2015.

The EFSD project portfolio in the Republic of Belarus consists of financial credits. The amount of the portfolio, taking into account completed and active projects, is US$ 4,560 million.

Contacts

Ministry of Finance of the Republic of Belarus
National Bank of The Republic of Belarus

Representative Office of the EDB
in Minsk:
70 Myasnikova Str., Office 310
Minsk, 220030
Republic of Belarus

Tel.: + 375 17 306 54 64
Fax: + 375 17 306 54 65

Indicator 2011 2012 2013 2014 2015 2016 2017 (Est.) Source
Real GDP Growth (%) 5,6 1,8 1,0 1,7 -3,8 -2,5 2,4 Nat. Stat.
Nominal GDP (US$ million, in current prices) 66 453 65 694 75 563 78 879 56 673 47 749 54 456 Nat. Stat.
GDP per capita (US$, in current prices) 7 009 6 941 7 984 8 331 5 978 5 027 5 729 Nat. Stat.
Poverty rate (%, national estimate) 7,3 6,3 5,5 4,8 5,1 5,7 5,9 Nat. Stat.
Inflation (CPI, average) 52,4 66,9 18,5 18,1 13,6 11,8 6,1 Nat. Stat.
Nominal interest rate on 3-month credits to the economy (end of period %) 28,9 38,8 35,8 36,9 39,6 26,6 14,1 CB
Balance of consolidated state budget (% GDP) 2,8 0,6 -0,1 1,0 1,4 1,5 3,1 MF
Trade Balance (% GDP) -1,9 4,3 -3,1 -0,6 0,2 -0,2 0,1 CB
Current Account Balance (% GDP) -8,0 -2,8 -10,0 -6,7 -3,3 -3,5 -1,8 CB
Gross International Reserves (months of imports, end of period) 2,0 2,0 1,7 1,4 1,5 2,0 2,4 CB
External Public Debt/GDP (%) 32,1 18,8 17,1 16,6 22,7 28,5 30,7 CB
Gross External Debt/GDP (%) 55,9 51,5 52,7 50,9 67,3 78,5 74,8 CB
Public External Debt Service/ Exports of Goods and non-factor Services (%) 1,4 3,2 5,6 11,7 8,2 4,9 5,3 IMF
Human Development Index (rank out of 187 countries) 65,0 50,0 53,0 50,0 52,0 N/A N/A UNDP
Global Competitveness Index (rank out of the amount of observed countries) not rated WEF
Exchange rate of the National Currency against U.S. dollar (period average, Bel. rouble/dollar) 4 623 8 336 8 876 10 216 15 865 19 885 19 318 CB
Exchange rate of the National Currency against Euro (period average, Bel. rouble/euro) 6 432 10 713 11 782 13 574 17 610 22 005 21 783 CB
Exchange rate of the National Currency against Russian Rouble (period average, Bel. rouble/rouble) 157 268 279 269 261 297 331 CB

Financial credit to Belarus for strengthening the balance of payments (2014) Completed Financial credit

On 2 July 2014 the ACF Council extended the Stabilization Programme supported with the financial credit to Belarus until 1 October 2014 and the period of the credit - until 1 February 2015. The issue of disbursement of the sixth tranche of the credit will be considered  in the ACF Council meeting to be held in Q4 2014.

Stabilization credit for Republic of Belarus (2016) Signed Financial credit

Approval of the stabilization credit to the Republic of Belarus in the amount of 2 billion US dollars in seven tranches during 2016-2018 was done by the Fund Council on 25 March 2016.


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