enue NW, Washington, DC 20009
telephone: [1] (202) 986-1604
FAX: [1] (202) 986-1805
consulate(s) general: New York

US diplomatic representation:
chief of mission: Ambassador Kenneth Spencer YALOWITZ
embassy: Starovilenskaya #46-220002, Minsk
mailing address: use embassy street address
telephone: [375] (172) 31-50-00
FAX: [375] (172) 34-78-53

Flag: red horizontal band (top) and green horizontal band one-half
the width of the red band; a white vertical stripe of white on the
hoist side bears in red the Belarusian national ornament

Economy
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Economic overview: At the time of independence in late 1991,
Belarus was one of the most developed of the former Soviet states,
inheriting a modern - by Soviet standards - machine building sector
and robust agricultural sector. However, the breakup of the Soviet
Union and its traditional trade ties, as well as the government's
failure to embrace market reforms, has resulted in a sharp economic
decline. Privatization is virtually nonexistent and the system of
state orders and distribution persists. Although President
LUKASHENKO pronounces his 1995 macro stabilization policies a
success - annual inflation dropped from 2,220% in 1994 to 244% in
1995 - the IMF has criticized his insistence on maintaining the
steady exchange rate for Belarusian rubel, which has traded at
11,500 to the dollar since late 1994. The IMF suspended Minsk's $300
million standby program in November 1995 until the government would
agree to a devaluation of the rubel. The overvalued rubel has
especially hurt Belarusian exporters, most of which now operate at a
loss. In addition, the January 1995 Customs Union agreement with
Russia - which required Minsk to adjust its foreign trade practices
to mirror Moscow's - has resulted in higher import tariffs for
Belarusian consumers; tariffs have risen from 5%-20% to 20%-40%.

GDP: purchasing power parity - $49.2 billion (1995 estimate as
extrapolated from World Bank estimate for 1994)

GDP real growth rate: -10% (1995 est.)

GDP per capita: $4,700 (1995 est.)

GDP composition by sector:
agriculture: 21%
industry: 49%
services: 30% (1991 est.)

Inflation rate (consumer prices): 244% (1995 est.)

Labor force: 4.259 million
by occupation: industry and construction 40%, agriculture and
forestry 21%, other 39% (1992)

Unemployment rate: 2.6% officially registered unemployed (