How stable and sustainable is the Belarusian economy? Freeworld Forum’s Senior Fellow Anders Åslund writes about the effect of Western sanctions on the economy.
Alyaksandr Lukashenka rose to power as manager of a state farm. To a significant degree, this is what he remains, even if he appears to have amassed a significant personal fortune in Dubai. His economic policy is simple. Big manufacturing companies are owned by the state and controlled by Lukashenka. If they make losses, these will be covered by the state banks that account for three-quarters of all bank loans in the country.