+11 oC
USD: 2.04
EUR: 2.25

Positive assessment

Standard & Poor’s International Rating Agency confirms long-term sovereign credit rating for Belarus at ‘B-’, with outlook improved to ‘stable’

Analysts see ‘signs of stabilisation in the country’s economy and improvement of short-term financial conditions’. Moreover, the agency has confirmed Belarus’ short-term rating at ‘C’ level. Clearly, the IMF’s optimism regarding our economic development is echoed by this new positive assessment.

S&P notes that the country’s reserves in foreign currency have risen, with direct pressure on the Belarusian Rouble exchange rate almost absent and inflation gradually slowing. In the first three months of 2012, Belarus’ GDP rose by 3 percent, totalling Br105.6 trillion (around $13bn). According to governmental forecasts, annual GDP growth is set to reach 5 to 5.5 percent.

In this first quarter, the manufacture of industrial goods rose by 8.3 percent to reach Br153.6 trillion in total (around $19bn); the annual growth forecast is 6-7 percent.

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