CSE and CIS
The functioning of the Belarusian economy under President Alexander Lukashenko's rule has already surprised many economic experts in Western Europe. Many of them have no idea how the country achieved a budget surplus, which in some sectors amounted to USD1.5bn.
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.