The Government has worked with the World Bank to produce a Roadmap for Structural Reforms in Belarus (March 2015), which subsequently provided the basis for applications to loan programs with the Eurasian Fund for Stabilization and Development (EFSD) and the International Monetary Fund (IMF).
The Government-approved 2016–2020 Action Plan aims to regain competitiveness, reduce vulnerability to external shocks, and restore economic growth. Planned measures include a further reduction in government directed lending, the establishment of a toxic assets management agency in agriculture, the introduction of contemporary corporate governance practices for state-owned enterprises (SOEs), the creation of an anti-monopoly agency, negotiations for World Trade Organization (WTO) accession, and further increases in utility tariffs to reach full cost recovery.
Major challenges for Belarus include bringing the economy back to a robust and sustainable growth path, improving enterprise performance, especially in the public sector, attracting foreign direct investment (FDI), and ensuring that efficient labor market and social protection systems are in place.
The current Country Partnership Strategy for 2013–17 facilitates competitiveness of transport sector by supporting modernization and upgrading of critical physical infrastructure in road and railway sectors. More information.
Belarus Country Fiches:
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