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Back to the past? - The Hindu

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How the Belarusian Economy Fails Five-Year Plans

20.01.2021, 16:18
Back to the past.
Since Soviet times, it has been customary in Belarus to announce ambitious plans for economic growth and other indicators for every 5 years. It is interesting that the last two five-year plans have failed in almost all respects. Myfin.by shows as clearly as possible how the plans collide with the harsh Belarusian reality and what comes of it.
Recently, Belarus announced new 5-year plans until 2025, which provides for the general economic growth of more than 20% over 5 years, and real money incomes of Belarusians should also rise by 1.2 times. It is noteworthy that the five-year plans for 2011-2015 and 2016-2020 failed in almost all respects. Especially the plans of 2011-2015 did not coincide with reality. So, instead of the government s expected economic growth of 62-68% over 5 years, we got a modest growth of 5.9%. The industry did not justify itself at all, which was supposed to give 60% growth, which gave only 4.5% increase in 5 ....

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