A worsening economy, a strengthening national identity, a demographic recovery, and growing Russian criticism of Belarus’s sense of nationhood apart from Russia continue to dominate the news emanating from Belarus. In February 2015, registered economic output was 3 percent below that in February 2014; throughout the first two months of the year, exports shrank by 29.4 percent and imports by 30.9 percent (Infofocus, March 2015). Due to diminished global oil prices, Belarus is also losing hard currency revenues. Although last year’s exports of refined oil increased by 1.6 percent, amounting to 13.8 million tons, revenues actually shrank by 1.9 percent, …read more
Source: The Jamestown Foundation