Belarus Economy: What to Know

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Belarus Economy: What to Know
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Ukraine’s Ministry of Dense warned this week that there were signs suggesting the Belarusian military was preparing for a “direct invasion” of Ukraine as the conflict neared its fifth week.

Belarus, which lies just to the north of Ukraine, has been targeted by sanctions for its participation in Russia’s invasion of Ukraine. Russia stationed thousands of its troops in Belarus for military exercises weeks ahead of the Feb. 24 invasion. As the world watches "White Russia" for its next moves, here are some things to know about Belarus and its economy.

The country gained independence from the Soviet Union in 1991. But unlike other former Soviet countries that grew closer to the west, Belarus has cultivated ties with Moscow, with some regarding it as a puppet regime. Russian President Vladimir Putin, right, and Belarusian President Alexander Lukashenko pose for a photo during their meeting in Moscow, Russia, Friday, March 11, 2022.

Since independence, Belarus has pursued a gradual transition path, with limited structural reforms and a modest expansion of the private sector. ranked Belarus as 45th in a list of 45 countries in the European region.

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