KEF-2016: Refroms for Inclusive Growth

    Economy of Belarus needs reforms. Otherwise neither external nor internal significant investment will come in the country. Economy will drown in stagnation without reforms as "manual control" has become ineffective. As a result, lack of reforms threatens human potential – the most important factor of sustainable development of the country.
    The term “reforms” can’t be replaced with synonyms without losing its meaning. The semantics is crucial here.“Transformation” changes form, but content remains. “Modernization” is always understood literally – on return we get unjustified and therefore ineffective investment. “Optimization”, “improvement” - these words from the formal language are premised on the viability of what is the subject of “optimization”. And Belarusian economy needs reforms specifically – a process of creative destruction. Considered, weighed in light of the best experience of different countries, but still reforms. SOE sector reform is the cornerstone. Otherwise economic fragility is still too high to defeat stagnation.
    Reforms affect all of us. If they are implemented, there will be those who win and those who lose. If reforms are abandoned, the number of losers will be much bigger.
    KEF-2016: practice of reforms, that provide opportunities for everyone.