The consultations with the International Monetary Fund (IMF) revealed positive structural changes to be expected in 2013. The GDP grows rather fast, and inflation slows down. The government focuses on stabilizing the national economy and prevents drastic changes.
Some processes going on in the Euro zone cannot be influenced by Belarus, but they have had a negative impact on the Belarusian foreign trade balance in the second quarter of FY2013. At the same time, the situation did not deteriorate in May-June 2013, which may indicate stabilization. During the third quarter of FY2013, the economy is supposed to have a positive effect based on the talks between the government of Belarus and their counterparts from Ukraine, Russia, and China.
During the first two quarters of FY2013, Belarus followed the IMF recommendations on supporting the exchange rate of the Belarusian ruble to foreign currencies. No actions have been identified to lower the exchange rate. Starting the beginning of the year, the exchange rate fluctuations have been within the limits of less than 4% of the average mean rate of the Belarusian ruble to the exchange rates of the major reserve foreign currencies. The government has also successfully carried out the measures to grow national reserves.
The regulatory framework has not been amended to the extent that it would affect the status of the target market; and there have been no critical draft laws proposed for adopting.
Based on the current situation, the economy of the Republic of Belarus is expected to be stable in 2013. According to the stated plans of the government, the following quarters will not introduce any measures or actions to cause severe structural changes. All efforts will only be focused on maintaining and improving the current situation.