Economy of Belarus under Conditions of Political Instability

In: Russia and New States of Eurasia, Heft 1, S. 72-81

Abstract

The article examines development of economic situation in Belarus in the period of political instability connected with the presidential elections on August 9, 2020 and mass protests against supposed falsification of their results. Condition of the Byelorussian economy on the eve of political crisis is presented including major directions of influence of this crisis on the economy; growth of financial instability, strikes at enterprises, skilled personnel drain, sanction pressure on the part of the West. It is shown that the political crisis in the RB, despite many forecasts, has not provoked so far an economic chock in the country, but in a long-term perspective it may have serious negative consequences. Therefore achievement of high economic indices projected by the country's leadership in the near future seems highly problematic.