Country Risk

Cabinet reshuffle in Belarus likely to lead to more pro-business economic policies aimed at attracting investment

20 August 2018


On 18 August 2018, Belarusian President Alexander Lukashenka dismissed Prime Minister Andrei Kabiakou and reshuffled the cabinet. The president appointed Siarhei Rumas, a 48-year-old career banker, as the new prime minister.

Lukashenka also appointed four new deputy prime ministers and four ministers, including new ministers for the economy, construction, communications, and industry. The new appointments are yet to be confirmed by the parliament, but that is highly likely to proceed. Rumas is a career banker with a PhD in economics, who had worked in both privately held and state-owned commercial banks, and in the central bank. Since 2012 Rumas has headed the Development Bank of Belarus, and since 2013 has been a Belarusian high representative in the Eurasian European Commission.

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