Belarus in February 2026: the most important developments in economy
Belarus's economy in February 2026 was shaped chiefly by directives from President Alexander Lukashenko. On 17 February he issued a series of instructions to the government, describing the current period as "almost wartime" and the economy as a real battlefield. He demanded action on falling industrial output, enforcement of price controls and a focus on the domestic market, urged the modernization of energy grids and better quality at lower cost, and criticized the National Bank for "unjustified euphoria" over wages. Earlier in the month, on 3 February, he had criticized cattle deaths and ordered cuts to street lighting. On 27 February Prime Minister Roman Golovchenko said that growing confidence in the Belarusian ruble was strengthening economic stability.
Relations with Russia ran through much of the month. Officials discussed cooperation with Russia's Orenburg Oblast and Tatarstan, and Minsk Oblast and Tatarstan outlined joint agricultural projects. Lukashenko and Russian President Vladimir Putin made statements on resisting sanctions, and the Belarus-Russia Union State launched a new committee on standardization and quality. The state standard committee said protection of the Union State market with Russia would become comprehensive. Belarus's overall foreign trade grew by 4.5% in 2025, and Putin noted that Russian-Belarusian trade increases every year.
Belarus also looked to other partners. Officials discussed cooperation with China's Chongqing and with Venezuela, and broader trade ties with Indonesia through the Eurasian Economic Union framework. Belarus and India identified growth areas in exchange trading, and an Indian lumber importer was set to enter the Belarusian commodity exchange. Minsk said it seeks to expand agricultural exports to Türkiye and advance exchange trade with that country. Belavia announced it would add the Maldives and Bahrain to its route network.
Agriculture and public finance drew further attention. At a dairy farm forum in Minsk, Belarus set a plan to raise milk production to 10.5 million tonnes by 2030, and Lukashenko visited a dairy complex in the Logoisk District on 28 February. The Finance Ministry auctioned $20 million in foreign exchange government bonds, the government selected innovative development projects to run until 2030, and Minsk Oblast reported a gross regional product of nearly 55 billion Belarusian rubles for 2025.
by WorldBrief & Maksim Micheliov | AI-generated summary
Click a day in the chart above for that day's brief.