May 23 – May 29, 2016

Services sector may step up influence on economic indicators in Belarus

The situation has not changed
Services sector may step up influence on economic indicators in Belarus

In Belarus, in April 2016, nominal monthly salary reduced by BYR 85000 to BYR 7.086 million, despite the increase in wages in industry, agriculture and construction. In March 2016, the banking and IT sector paid bonuses based on performance in 2015. In April, therefore, salaries have been adjusted downwards in these sectors. The IT sector is the leader in wages in Belarus. In the future, the services sector is likely to increase its influence on the overall economic performance and its share in total GDP will grow. The IT sphere is likely to remain the leader in wages and the number of vacancies. With the reduction in exports of some goods, services may grow by up to 10% in 2016 relative to 2015 (information services, passenger transport). Visa facilitation and improving the quality of services may prompt tourism to become one of the economic drivers in Belarus.

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Once a week, in coordination with a group of prominent Belarusian analysts, we provide analytical commentaries on the most topical and relevant issues, including the behind-the-scenes processes occurring in Belarus. These commentaries are available in Belarusian, Russian, and English.

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