Growth for All? Economy of Belarus: the Challenges Ahead
Authors: Haiduk, K., Kruk, D., Pelipas, I., Rakova, E., Chubrik, A., Shymanovich, G.
The search for its own way has driven Belarus back to a reference point – the choice of development path. Cheap energy-based competitiveness is now challenged by the adjustment to new energy prices. After the shock, continuous albeit slow real income growth maintained by the authorities as a part and parcel of a social contract has been downwardly revised. However, while citizens now face a greater degree of economic self-responsibility, the conditions for its proper realization are not yet created. Nevertheless, the “architects” of the Belarusian economic model are forced to make a decisive choice, namely to amend the model themselves or merely wait until it would be adjusted by the factors of external origin. Both policy options are unpleasant, thereby making real policy choice a complicated affair.
The materials provided in the book show why the previous system was faced with this choice and the consequences of the decisions being adopted at the moment.
© IPM Research Center, 2007