The Wind of Changes in Belarusian Economy
The Wind of Changes in Belarusian Economy

Author(s): Volha Dudko
Subject(s): National Economy, Energy and Environmental Studies
Published by: AMO – Asociace pro mezinárodní otázky
Keywords: Belarusian economy 2007:
Summary/Abstract: The hike in energy resource prices changed the relationship between Russia and Belarus and shifted it to a more commercial plane. For many years the Belarusian government succeeded in keeping a substantial growth in the Belarusian economy with the stimulation of consumer demand and high prices on exported products (refined oil, potash fertiliser) plus a duty-free excess in the large Russian market. But at the same time the economy remained practically unreformed (only sectors in which government was interested were modernised, others were in decline). High prices on oil products gave an opportunity for the government to finance social programmes and to keep unprofitable enterprises afloat. At the same time there exists tiny private sector with a relatively developed market, but with continuous pressure from administrative control.

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