Three questions about one unsolvable problem in the Belarusian economy
Economic downturn in Belarus is already lasted 15 months in a row. Traditional links to the unfavorable external environment are partly true: by the latest estimates, in February 2016 on the background of cyclical recession the real GDP growth rate of long-term trend has reached -1.3%, and besides that its decline is lasted from June 2014. In conditions of prolonged fall of external demand Belarusian economic authorities are forced to take actions to restrict internal demand whereas previously accumulated imbalances deprived the government of resources and possibilities to stimulate economic activity at the expense of traditional sources. The danger of the situation is that the government needs to solve short-term problems leaving unsolved a wide range of structural questions.