Lukashenka's Failure

Belarus has become one of the poorest countries in Europe.

In 2023, according to the International Monetary Fund (IMF), Belarus ranks among the poorest in Europe in terms of GDP per capita, at $7,820. This puts the country among the poorest in the region, behind most European countries in terms of per capita income, writes political scientist Dzmitry Balkunets.

Belarus also ranks among the last in terms of GDP per capita among the former socialist countries.

According to the International Monetary Fund data for the period from 1994 to 2023, Belarus showed moderate growth of GDP per capita. In 1994, the figure was $1,534, which was among the lowest among the former socialist countries. By 2023, Belarus' GDP per capita had increased to $7,820.

By comparison, Slovenia, one of the most economically successful countries among the former socialist states, started with a GDP per capita of USD 8468 in 1994 and reached USD 32233 in 2023. The Czech Republic has also shown impressive growth, increasing its GDP per capita to US$30600 in 2023.

Estonia, which had a GDP per capita of US$1,711 in 1994, has reached a level of US$29839 in 2023.

Poland, which was on a par with Belarus in the early 1990s, has shown much more successful economic development. In 1994, GDP per capita in Poland was US$2,693, which was comparable to Belarus. However, by 2023, GDP per capita in Poland increased to 21996 USD, which is several times higher than Belarus.

Albania, which had a GDP per capita of USD 796 in 1994, was in a worse economic position than Belarus. However, by 2023, Albania's GDP per capita had risen to US$ 7957, surpassing Belarus. This indicates a more successful economic transformation and income growth in Albania over the past three decades.

Venezuela, on the other hand, has experienced a significant economic decline. In 1994, GDP per capita in Venezuela was $2,742. Despite growth in the early 2000s, the figure fell to US$3,659 by 2023. This is due to the coming to power of Hugo Chávez in 1999 and his successor Nicolás Maduro, whose rule was marked by a deep economic crisis, hyperinflation and political instability that have plagued the country in recent years.

Belarus remains one of the least economically developed countries in Europe and lags far behind the global average GDP per capita, which is $13,359 in 2023. In 2023, GDP per capita in Belarus is lower than in Georgia (USD 8173) and Armenia (USD 8153).

Due to the failed policies of Aliaksandr Lukashenka, Belarus is experiencing significant economic difficulties compared to other countries in the region and the global average.

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