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Macroeconomic Situation
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Belarus’ President Alexander Lukashenko has signed ordinance #144 to abolish the “golden share” rule, which allows the government to interfere with the management of a company regardless of how large or small a stake the government has in the company or whether it controls a stake at all, provided it once was state-owned. | |
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Economic pundit Sergey Balykin answers this question.
Economic liberalization is indeed a frequently discussed topic in Belarus. The L-word is being heavily used in official statements right now. However, previous experience shows that the liberalizing intentions of the powers-that-be have never gone beyond words. It is evident that grand sounding statementû will go nowhere this time round. | |
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“The state will continue its support of small scale entrepreneurship although the conditions will be substantially reviewed in the near future,” says Deputy Economy Minister, A. N. Tur, in an interview with correspondent Yuriy Bekhterev. He notes that the small business support models currently being developed by the Government as part of its small towns program, will be incorporated in the ‘Law On the Support of Small and Medium-Sized Business’ and will be universally applied. | |
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Elena Rakova, an expert from the Privatization and Management Institute's Research Center and a PhD, analyses the Belarusian labor market. | |
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Efforts to boost the competitiveness of the Belarusian production sector by means of regional integration have yet to produce tangible results. If Belarus is to modernize its economy, it should pursue closer integration with developed countries. However, steps in this direction have been blocked by fears of globalization’s negative effects. | |
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In his speech at the 3rd All-Belarusian People's Congress, the Belarusian President announced, “A new stage of short-term development of state machinery is to be conducted under the slogan 'The State for the People’. Its primary objective is to cut red tape. Accordingly, we should employ methods to simplify procedures for dealing with a variety of issues, speed up the decision-making process, bring the authorities closer to the people and make their functioning more transparent and easier to understand. We’ve already started on this path.”
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End-of-year economic reports rarely differ from those seen in the first three quarters; key trends are already apparent and the behavior of key economic subjects is predictable. Companies are completing their business plans and the government and local authorities continue within their existing task framework. As Belarus has almost fully reconstructed a planned economy, its end-of-year results can be calculated by looking at the first three quarters.
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Business Environment 
