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Expert: Economic Model Collapsed In Belarus

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Expert: Economic Model Collapsed In Belarus

Authorities have admitted that the modernization failed.

Summing up the year, Siarhei Chaly in the Economics in Lay Terms program on tut.by noted: in 2018, the authorities finally recognized the failure of the moderation. He recalled that shortly before the “elections” in 2015, Aliaksandr Lukashenka declared that modernized enterprises should finally pay back the huge amounts of money invested in them.

– What have we come to this year? The battle of Vorsha was not about the fact that the government had not patched up a hole in the roof. And the meeting on the construction industry was essentially about the fact that the moderation had failed, – the economist says.

As examples, Siarhei Chaly cited several enterprises that regularly got into the news feeds this year:

– The Svetlahorsk industrial complex cannot pay its debts, $ 150 million, because it does not work. Dobrush (the cardboard factory) needs to look for a more reliable partner. Now we are thinking whom we will sell our modernized Barysaudreu, Homselmash, where to find money for Hrodna-Azot and Krasnaselsk (the cement plant), modernized, as it turns out now, by our not very reliable partners, which we also need to sell to someone.

According to the economist, the failure of modernization and the announced plans for industrialization at the cost of $ 100 billion indicate that the authorities have finally reached a dead end, and the internal economic model has failed.

Siarhei Chaly reminded: in 2012, Belarus was at a fork of the road, when the authorities had the opportunity to take the path of structural reforms, especially since at that time, the overall macroeconomic situation contributed to this. But instead, the authorities chose the modernization.

“And now, looking back, we see that there is no way back to that fork.”

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