JRL NEWSWATCH: “Belarus’ Soviet-era economy still propped up by Moscow” – Deutsche Welle/ Nik Martin

“Belarus has one of the lowest poverty rates in Europe, but economic growth is anemic due to archaic state-run industries and the ending of Russian energy subsidies. Its biggest political crisis is even more of a threat.”

“… Belarus’ dependence on energy-rich Russia is ever more evident …. Moscow has already offered to help bolster security [amidst the current crisis] …. More than 46% of Belarusian goods are exported to Russia … 24% to the [EU]. Russia is … Belarus’ main import partner … [providing] more than half … [Meanwhile,] Belarus’ imports from the EU total 20%. Russia is … [Belarus’] largest creditor … hold[ing] almost 38% of its … national debt. … [A] huge energy-subsidy scheme … allows Belarus to import Russian crude oil … below-market … [which crude is] then refined and sold internationally[,] [with] [a] similar deal … for gas … [with the gas later]  resold. … Putin has ordered the arrangement … slowly phased out by 2024 … to force Minsk into a deeper political and economic union. Lukashenko has … resisted, but at the beginning of [2020], Moscow temporarily halted [the] crude oil supplies ….”

Click here for: “Belarus’ Soviet-era economy still propped up by Moscow; Belarus has one of the lowest poverty rates in Europe, but economic growth is anemic due to archaic state-run industries and the ending of Russian energy subsidies. Its biggest political crisis is even more of a threat.” – Deutsche Welle/ Nik Martin