Belarus

D

Energy

The republic has large deposits of peat, which are used to fuel industrial and power plants. Plans for developing a nuclear power industry to relieve the republic’s dependence on outside sources of energy are under consideration. Belarus, of all the former Soviet republics, received the highest amounts of radiation fallout from the 1986 Chernobyl nuclear accident in neighbouring Ukraine.

E

Currency and Banking

In April 1994 an agreement was signed to establish a monetary union with Russia that would reduce trade and customs restrictions, and abandon the Belorussian currency, the rouble, which had been circulating in tandem with the Russian rouble, in favour of the latter. Although the intention was to unite the monetary systems of the two countries, it was eventually acknowledged that economic conditions would prevent such an arrangement, and the Belorussian rouble became the sole legal tender in October 1994 (2,152 Belorussian roubles equalled US$1; early 2007). Re-denomination of the market rate was carried out in January 2000, in which old 1,000 rouble notes were exchanged for new 1 rouble notes. Currency is issued by the National Bank of the Republic of Belarus (Natsionalnyi Bank Respubliki Belarus).

In 2000 the issue of monetary union with Russia was reconsidered and, in November, proposals for a single currency agreement between the two countries were announced. It was envisaged that, after the weak Belorussian rouble had been strengthened by Russian loans, the Russian rouble would become a valid currency in both countries by 2005. The introduction of a single currency is planned for 2008.

F

Commerce and Trade

During the Soviet era industrial production in Belarus was large in relation to its size, but following independence production decreased. World market prices for energy and imports had an adverse effect, but there was some recovery in the mid-1990s. Russia is still the main trade partner for both imports and exports (accounting for some 55 per cent of total trade in 1997) and other former Soviet republics remain important trade partners. Of non-CIS countries, Germany and Poland were leading trade partners in 1997.

G

Labour

The decline in the economy since the early 1990s has been reflected in decreasing numbers in employment. The labour force totalled some 4.78 million in 2005; of these approximately 21 per cent were employed in agriculture; 35 per cent in industry and construction; and 40 per cent in service industries.

H

Transport

There are 93,055 km (57,822 mi) of roads, including three major highways; car ownership rose to 168 per 1,000 people in 2003. The railway network extends approximately 5,500 km (3,500 mi). There are international airports at Minsk and Brest, and domestic airports serve each of the six voblasts. The national carriers are Belavia and Minskavia. The Dnepr-Bug Canal system provides access to the Baltic and Black Seas.