Siarhei Chaly: Lukashenka Economy Is In A State Of Collapse

People are losing their trust in the ruble.

Economist Siarhei Chaly talked about the "lost decade," assessing the state of Lukashenka economy.

- I would not compare this year with 2019, but rather with 2010. In fact, it was a lost decade. People' incomes are about the same now as they were in 2010. The economy is not growing, that was clear by the year 2015. There is no serious potential for its growth under the current model," - independent economist Siarhei Chaly noted in an interview on the Country for Life YouTube channel.

In what way politics influences the economy

According to Chaly, the current state of the economy can not be called normal:

- The political crisis, which has not been resolved, has a very serious impact on what is happening to the economy. Roughly speaking, the economy is frozen in impatience. The behavior of households, consumers can be seen very well: there is a loss of confidence in the Belarusian banking system, in the ruble. People do not make long-term purchases, as they do not expect to improve their well-being in the near future.

Generally, the expert notes, the economy is in a state of collapse.