Belarusian economy in 2013: an attempt to reset the old model of growth

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This work is devoted to the analysis of macroeconomic dynamics in Belarus in 2013. The year 2013 clearly demonstrated the weak growth potential of the Belarusian economy. However, this has not led to significant progress in structural reforms, as the economic authoritiesthere had high expectations of the inertial growth mechanisms. 2013 can generally be described as an attempt to reset the existing model of the national economy. The results of this policy can hardly be considered satisfactory. Due to active stimulation of demand price competitiveness of domestic producers significantly decreased. At the same time, stimulation of other components of demand was limited. As a result, in 2013 Belarus turned into cyclical recession that can last long enough.

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Last updated 06.01.2016
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