Political change in Belarus also requires deep economic reforms - what next for the country?
Democracy has not always accompanied market economy. But in modern societies, economic and political freedoms are increasingly interconnected. Democracy and market economy can support each other. This is particularly true in post-communist economies of Central and Eastern Europe and the former Soviet Union. Thus, authoritarian tendencies observed in these and other regions can negatively affect quality of economic policy and governance.
At this event we discussed where the economy of Belarus is heading, and what this implies for the EU.
Presentation at the European Parliament – Delegation for Relations with Belarus.
Belarus must speed up its transition to a market economy, in order to return to growth and to avoid a new balance of payments crisis. But such reform will face economic, social and political challenges
Despite the slow pace of market reforms, the Belarusian economy recorded quite impressive growth until recently. However the Belarus growth ‘miracle’ cannot be continued, and the reforms that are needed might be difficult to implement. The potential hardship facing Belarus could be at least partly cushioned by external assistance.