Market Report, "Belarus Business Forecast Report Q1 2014", Published
The Belarusian economy remains in a very precarious position despite the nascent resolution of the potash dispute that threatened to engender a balance of payments crisis. The current account deficit is set to remain substantial (we forecast 9.5% of GDP in 2014) and foreign exchange reserve levels remain woefully inadequate, covering just 1.4 months of imports in September 2013. If state-owned potash producer Belaruskali can begin to increase production substantially in 2014, it could prove the key factor in avoiding...
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