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BELARUS

Belarus’ economic model has retained key features of state-led development and substantial income redistribution. Underpriced energy inputs from Russia and a favorable external environment helped to maintain relative macroeconomic and fiscal stability until 2008 and allowed Belarus to record notable social and economic progress. Loose domestic macroeconomic policies exacerbated external imbalances in 2010 and increased risks, associated with the financing of the external gap. Developments in recent months have highlighted the need for stronger macroeconomic measures and simultaneously increased the urgency of structural reforms. The World Bank support to Belarus is focused on advancing the needed economic and structural rebalancing, safeguarding the welfare of the most vulnerable, and addressing environmental and energy challenges.

Active financed activities as of March 28, 2012.
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