To the list of articles16 september 2009
PP/04/09 Perspectives and Challenges for Economic Policy in Belarus during the Global Crisis: Evidence from Macroeconometric Modelling
This paper deals with the perspectives of the development of the Belarusian economy during the global crisis and options of economic policies. We show that during 2009 Belarusian economy faces a couple of challenges that are consequent to its structural distortions, which, however, were strengthened substantially by the negative global conjuncture. In this situation a current account deficit achieved definitely dangerous level. However, taking this problem into consideration, economic authorities paid much attention to maintaining the growth of GDP. The current policy mix includes enhancing more flexibility to the exchange rate and more rigid fiscal discipline.