The European Bank for Reconstruction and Development believes that economies should search for a new model of growth that goes beyond the imitation and import of technologies. EBRD indicates three areas where new sources of growth should be sought.
The banking sector of Belarus, already shaken by the US sanctions that affect the local subsidiaries of Russian leading state-owned lenders, will face further problems if the US administration adopts new restrictions against Russia's richest businessmen.
In Europe the discussions about the construction of the Nord Stream 2 pipeline, Brexit and the crisis in the Eurozone dominate the public discourse. The further east we go the more we hear about the deepening cooperation between Russia and China.
Four countries of Central and Southeast Europe are considered as advanced economies in the World Economic Forum The Inclusive Development rating: Czech Republic, Slovenia, Slovakia and Estonia.
The Eurasian Customs Union has been created by several countries of the former Soviet Union surrounding Russia and has contributed to the growth of illegal exports from outside the community.
In a “new normal world” knowledge, human capital and R&D are sources of economic growth. FDI, productivity and EU funds are the elements of the past.
During recent months there have been many positive political and economic signals coming from Minsk. However, this modest optimism has now waned substantially.
According to a Belarusian economist Jarosław Romańczuk, a quick and open privatization is not to be expected in Belarus, as it is not in the interest of the authorities.
A positive effect of retirement age extension for Belarusian GDP might be lower than expected due to the lack of other necessary reforms.
In Europe Estonia has been placed second in the 2017 Heritage Foundation's Index of Economic Freedom. Lithuania was 8th and Latvia came in at 11th. In the global ranking Estonia is the 6th.