Can the Stronghold Withstand an Economic Attack? The Challenges and Prospects of the Belarusian Economy in the Near Future
Can the Stronghold Withstand an Economic Attack? The Challenges and Prospects of the Belarusian Economy in the Near Future

Author(s): Yakov Minkov
Subject(s): National Economy, Governance, Post-Communist Transformation
Published by: AMO – Asociace pro mezinárodní otázky
Keywords: Belarusian economy; economic growth; authoritarian polity; semi-command economy; energy subsidies; gas and oil prices; privatization; enterprise restructuring; economic sustainability; policy challenges;
Summary/Abstract: Over the years, the Belarusian economy has been displaying decent rates of economic growth, while being labelled by international financial institutions and many commentators as a ‘laggard in transition’ with an authoritarian polity and a semi-command economy. Some economic successes had initially appeared as puzzling, but were later accepted and understood. But still, with a low share of private sector to GDP and the virtual absence of privatisation along with a slow pace of enterprise restructuring, all imply that Belarus’ economy is far from being a ‘fully-fledged’ market economy.

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