Error message

Belarusian retail trade turnover in 2016 may reduce by one third

April 22, 2016 19:43

According to the National Statistics Committee, in 2015, Belarus’ retail trade turnover totalled USD 21.9 billion, i.e. decreased by one-third compared with 2014. The fall in turnover was due to lower wages. An average Belarusian spent 5.5 monthly salaries per year on average to purchase consumer goods in retail outlets. Due to negative economic trends and the national currency devaluation, in 2016, wages may reduce by one-third, compared with 2015. Consequently, in 2016, retail trade turnover will continue to fall, while the share of food in household spending will increase. Due to the fall in people’s purchasing power, a number of retailers may suspend their activities, rental rates in shopping centres are likely to decrease, so as the number of tenants. Construction of new large shopping centres is likely to be postponed or frozen, and retailers may review their regional expansion plans.

 

Similar articles

Minsk attempts to make up for image losses from military exercises by opening to Western values
October 02, 2017 11:49
Image: Catholic.by

The Belarusian authorities regard the Catholic conference as yet another international event to promote Minsk as a global negotiating platform. Minsk’s proposal to organise a meeting between the Roman-Catholic Church and the Russian Orthodox Church is rather an image-making undertaking than a serious intention. However, the authorities could somewhat extend the opportunities for the Roman-Catholic Church in Belarus due to developing contacts with the Catholic world.

Minsk is attempting to lay out a mosaic from various international religious, political and sportive events to shape a positive image of Belarus for promoting the Helsinki 2.0 idea.

Belarus’ invitation to the head of the Holy See for a meeting with the Patriarch of the Russian Orthodox Church should be regarded as a continuation of her foreign policy efforts in shaping Minsk’s peacekeeping image and enhancing Belarus’ international weight. The Belarusian authorities are aware that their initiative is unlikely to find supporters among the leadership of the Russian Orthodox Church in Moscow. In Russia, isolationist sentiments prevail.

In addition, for domestic audiences, the authorities make up for the lack of tangible economic growth with demonstrations of growth in Minsk’s authority at international level through providing a platform for religious, sportive and other dialogues.