Belarus is a presidential republic governed by the President and the National Assembly – bicameral parliament. The assembly consists of House of Representatives - a lower house with 110 members, and the Council of the Republic - an upper house that gathers 64-members. The president is elected by popular vote to serve 5-year term.
Economy of Belarus
The Belarusian economy remains mostly state-controlled as over half of business is government run and foreign ownership is under 4%.The country is relatively stable economically, but depends to a large extent on raw material supplies, such as oil, from its close ally - Russia.Agriculture is dominated by collective farming, with major sub-sectors being the cultivation of potatoes and meat. The biggest export of Belarus is machinery, including tractors and defence equipment. The biggest trading partner of Belarus is Russia. According to government statistics, 48.6% of the total trade was made between Russia and Belarus. The largest European Union member that traded with Belarus during that period was the Netherlands at 7.5%. Due to an agreement between the EU and the former Soviet Union, Belarus is able to perform bilateral trades with EU member states.
Over four million people comprise the labour force in Belarus, with women holding slightly more jobs than men. In 2005, nearly a quarter of the population were employed in industrial factories. Employment is also high in agriculture, manufacturing sales, trading goods, and education.
Investment in Belarus
Due to the economic and political climate, only a small number of foreign investment has occurred in recent years. In 2002 two major companies from Sweden and Russia ended operations in Belarus due to unrealized government commitments or unwelcome interference. A motor industry leader did the same in 1999. Then, in July 2007, Lukashenko – the current president, threatened to take unspecified actions against American businesses in Belarus.
Foreign trade
In terms of trade, over one-third of Belarusian exports go to Russia, although this reflects a decline in 2005 from previous levels, resulting from restructuring in January 2005 of the value-added tax (VAT) as applied in bilateral trade. Due to the structure of Belarusian industry, Belarus relies heavily on other CIS countries and Russia in particular, both for export markets and for the supply of raw materials, subsidized energy, and components. In 2008 the sharp increase in the price of natural gas and higher tariffs on Russian-sourced oil and oil products have contributed to a crisis in the Belarusian economy, forcing the regime to cut popular subsidies and request a stabilization loan from Russia.
Infrastructure and communication
Railway network in Belarus is 5,512 km long. But it is almost completely broad gauge track, as a standard gauge only accounts for 15 km. However the total length of the road network is 95,055 and is fully paved.
In 2006 in Belarus there were over 5.96 million mobile phone users and over 5.47 million internet users together with 20,685 internet hosts registered.
GENERAL DATA
Area: 207,600 sq km
Population: 9.7 million
Capital city: Minsk
Language: Belarusian, Russian
Ethnic groups: Belarusian 81.2%, Russian 11.4%, Polish 3.9%, Ukrainian 2.4% other 1.1%
Land boundaries: Latvia, Lithuania, Poland, Russia, Ukraine
MACRO DATA
GDP (real growth): 9.9%
GDP (PPP): € 65,649 million
GDP per capita: € 6,399
Inflation: 9.5%
Unemployment: 1.6% (officially registered unemployed; large number of underemployed workers)
Exports: € 15.5 billion f.o.b.
Imports: € 16.7 billion f.o.b.
* 2006 est. source: CIA, The Word Fact Book
USEFUL DATA
Currency: Belarusian ruble (BYR)
Exchange rate
(2006 avg.):
€/BYR 2,692.07.
Time zone: GMT +2/GMT+3
Area code: +375
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