The policy agenda was focused on overcoming the country’s recession amid favorable terms of foreign trade, a constrained economic transformation, economic and political conflicts with Russia, and efforts to adapt to the changing internal and external environment.

The government is working on decrees aimed at improving conditions for doing business, allowing new space for private entrepreneurship and the digitalization of the economy. Belarus conceptualized the coexistence of two economic realities: the “traditional economy” aimed at ensuring employment and inflating the budget and the “new economy” aimed at generating economic growth.

Growing Russian pressure on Belarus pushed it to embrace greater international openness and a moderate, limited revision of internal policy approaches.

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