Economy

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The never-ending transition

The never-ending transition In the USSR Belarus had a remarkably high level of social, economic development and a reputation for political stability. After the collapse of the Soviet Union in...read more ...

Institutional developments

Institutional developments The main elements of transformation are: the transformation of state ownership into private, and liberalisation of the exchange. Privatisation was erratic after 1991...read more ...

Foreign trade and debt

Foreign trade and debtThe structure of foreign trade, in terms of commodities and markets, has not undergone dramatic changes during the transition period. Belarus’ trade integration is...read more ...

Monetary and fiscal manoeuvres

Monetary and fiscal manoeuvresThe early transformation period saw the re-invention of monetary and fiscal instruments, effectively absent under central planning. On the monetary front, Belarus (as...read more ...

Social welfare

Social welfare As in many post-Soviet states, the economic and political changes that came with the collapse of the Soviet Union led to a dramatic decline in social conditions. Yet,...read more ...

Industry

Industry At the moment when the USSR collapsed, industry formed the basis of the Belarusian economy. Belarus is poorly endowed with natural resources. Potassium salts...read more ...

Services

Services The service sector increased from 30 per cent of Belarus’ GDP in 1990 to around 50 per cent in 2010. Services are mainly related to transport, trade and catering...read more ...

Agriculture

Agriculture Given the scarcity of land resources, on the one hand, and the domination of ineffective state ownership in agriculture, on the other, agricultural productivity is...read more ...

The miracle of growth

The miracle of growthA dramatic decline in output, following the collapse of central planning, was theoretically inevitable and empirically testified in all transition countries in the...read more ...