Belarus: Economy

Domestic

Belarusian leader Alexander Lukashenko held a series of meetings focused on economic management and agricultural issues. He criticized a decline in industrial output and demanded exporters work harder to expand their market reach. Lukashenko also confronted regional governors over livestock deaths, calling the situation a 'moral abnormality,' and demanded clear anti-crisis plans for struggling regions like Vitebsk Oblast, rejecting proposals for more debt restructuring in its agricultural sector.

Concurrently, the government released economic reports showing positive results for 2025 and early 2026, including attracting $7.6 billion in foreign investment, foreign trade in goods reaching nearly $90 billion, and gold and foreign currency reserves hitting a record high of $15.7 billion. New policies are being implemented, such as adjusting licensing rules for merchandise exports and imports and setting new financial technology standards. The Prime Minister praised the economy's performance. Separately, Lukashenko delayed a scheduled increase in housing and utility rates for households that was set for March 1.

International

Belarus and Russia announced several new agreements to strengthen their ties, including plans for a new flight from Minsk to Ufa, the opening of a new trade center in Russia's Kalmykia region, and the signing of an agreement for a joint university. Officials also discussed increasing trade with Russia's Tatarstan region and expanding business with Orenburg Oblast.

Belarus is also working to strengthen its international economic ties beyond Russia. The country's trade unions are expanding cooperation with Indian unions, and officials are discussing growing trade with Indonesia through the Eurasian Economic Union. Belarus's ambassador to Iran stated cooperation with that country has gained strong momentum, and talks are being held with Venezuela and Sri Lanka with the goal of boosting closer cooperation and trade.