To the list of articles26 october 2001
Belarusian Economy: Statistical Outlook
The paper analyses recent dynamics of the Belarusian economy, covering the period from 1995 to 2000. The analysis shows that Belarus has actually preserved most of the archetypal features of the ‘soviet-type economy’, where reforms are severely constrained by the nature of authoritarian political regime. Distortions in economic statistics reflect serious imbalances in macroeconomic policies conducted through this period. Price regulation and high inflation most substantially contribute to these distortions, while up to the year 2000 multiple exchange rate regime was a complementary source of statistical biases. It is argued that making simple changes at the methods of statistical calculations within the current practices of excessive state interventions would produce minor effects. What is needed is a comprehensive reorientation of economic policies towards market-based system, what would be reflected in statistics.