Belarusian Economy

Belarusian Economy         Belaruss scrimping has done fairly hearty from the situation it started in. The economy has some strengths, but it is also non without its weaknesses. Also the nation has not done yet decent to restructure its economy by and by the break up of the USSR.

        Belarus has a fairly come up balanced economy with an agriculture open of feeding its population and a well excogitateed industrial tail. Belarusian pains is capable of producing 1.1 million tons of brand name per year, and it manufactures machine tools, agricultural machinery, motor vehicles. It also has a well developed chemical manufacturing plants, and there is also a tree branch of industry for consumer goods such as radio, television sets and bicycles. Furthermore its industrial construction complex ensures a considerable scope of construction. The Republic also has a diversified agricultural crop ranging from potatoes and corpuscle to flax and livestock. The agricultural sector accounts for 20% of the GDP while the industrial around 43%. Besides helping to develop the industry, Russia helped to develop the infrastructure of Belarus making most of the country accessible. Belarus has a jolly well developed industry and a long storey of agricultural development.

        Problems for the economy of Belarus began to arise after the collapse of the Soviet Union. The weakness with Belarusian industry is two-fold. It has to import much of its black materials from other nations and it imports most of its energy. As a result industry came under severe stinting pressure shortly after independence. The problem with its agriculture is that it that about two thirds of the peasants are palliate organized into collective farms and the remainder in state farms. A few private farms were established but the treatment they certain from the state discouraged other from trying. Also Belarus has a 14% trade deficit, which increase the vulnerability of the economy. Another drag on the economy is the continuing cost associated with the 1986 Chernobyl nuclear disaster, estimated in 1995 at a quarter of the case economy. The southern part of Belarus was intemperately hit by the nuclear fallout and many of the estimated 2 million victims live in Belarus. The Belarusian economy has way for improvement, however if put in the right circumstances it could thrive.

later the dissolution of the USSR the national economy of Belarus was being restructured to introduce cognition intensive and low power consuming industries. However, Belarus has seen little renew since 1995 when president Lukaschenko launched the country on a path of market place socialism. Privatization of enterprises controlled by the central governing virtually ceased in 1996.



barely about 10% of all enterprises under central government control had been privatized. In addition, Lukaschenko has re-imposed administrative control over prices and the national currencys exchange rate, and expanded the states right to intervene arbitrarily in the management of private enterprise. Lack of structural reform, and a climate hostile to business, have inhibited foreign investment in Belarus in 1995-97. Belaruss economy consisted mainly of fleckary industry, qualified on Russia and other Soviet republics for both raw materials and markets. The second problem is that it inherited a weak political leadership at independence that never managed to even begin economic reform. To make the conditions favorable for investments Belarus is taking steps for creating an adequate base of legal standards for foreign investment security, liberalization of taxation beau monde and customs regulations, granting cost benefits to investors and providing various information and business services.

The economy of Belarus has great potential. Its strengths can be strengthened and its weaknesses can be improved. Having a strong trading partner would put Belarus in a position to over come the crisis in its economy.

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