Significant productivity gains would be necessary to resume high economic growth given the limited scope to increase capital and labor input from domestic sources. In addition, there are indications that the returns from investment have declined, not only because the level of investment is already very high, but also much of the recent investment has been in residential construction. If you come across a text in Belarusian language and would like to translate it into English – simply go to Google Translate. Most places offer menus in English, so no need to worry, you won’t starve to death. Mind that not so many drivers speak English, on the other hand, you need a taxi to get you to your destination, not for some chatter, right? (The full text of Tkachev’s interview as well as a compilation of its most controversial parts are available online in Russian.). • The banking system shall be allowed to make lending decisions based on the profitability and risks of the projects rather than government directions or recommendations.
Older people rarely speak English but they would still try to help you as long as you ask for it. They smile, let alone laugh when there is some real emotion involved. Over time, and when a supporting institutional framework is in place, Belarus can move further in the direction of exchange rate flexibility. Note that smiling out of politeness is not common in Belarus. First of all, you would be glad to know that the airport is not the only place where you will see or hear English.
But once you leave the small and cozy airport, you have to confront a reality where outside the tourist hotspots everything will be either in Russian or Belarusian. To read the signs, the labels or the menu use the instant photo translation option. From Simple English Wikipedia, the free encyclopedia, У Падляшскім ваяводстве беларуская мова прызнана афіцыйнай, European Charter for Regional or Minority Languages, https://simple.wikipedia.org/w/index.php?title=Belarusian_language&oldid=6656278, Articles containing Belarusian-language text, ISO language articles citing sources other than Ethnologue, Creative Commons Attribution/Share-Alike License.
2. It is also used in public transport, particularly in the metro. HelloMinsk is your personal guide around the Belarusian capital – 50 sights and up to two hours of audio excursions altogether. This referendum resulted in an increased use of Russian throughout the country. Belarus guide by Triposo: an offline map with walking routes and landmarks, hotels, nightclubs, and tips about public transport.
If you come across a text in Belarusian language and would like to translate it into English – simply go to Google Translate. In the longer run, several external constraints may hinder a return to the growth path prior to the current crisis. In an interview given earlier this week, privatization of state property is described as a “craze” and the movement towards economic liberalization as shameful.
11. It is also important to keep the deficit of the local governments under control. It would require an alternative nominal anchor (such as an inflation targeting framework) and an independent central bank capable of implementing credible monetary policy. Domestic savings have been lower than investment, putting pressures on an investment-driven growth model as external financing is likely to be less accessible and more costly following the global crisis. It is the native language of about 8 million people. The NBRB needs to tighten credit policy in the near term. • An ambitious and transparent privatization agenda that is open to foreign investors would help bring capital, technology, and management and marketing skills. Belarus has made progress in economic adjustment in 2009, which will help restore the country’s external stability. Productivity growth will also benefit tremendously from the emergence of a strong private sector. High investment-to-GDP ratios and productivity gains from a well-educated and disciplined labor force were the main contributors to growth. That’s why apart from being obviously useful in different situations, your knowledge of basic words and phrases will help you break the ice. This page was last changed on 8 September 2019, at 01:50. Feel like missing some human interaction? How well and widely spoken is English?
The situation was exacerbated by reduced subsidies on energy imports. Both the GDP level and potential growth rate of Belarus’s main trading partners are likely to be lower in the aftermath of the crisis, reducing external demand for Belarus’s products. A prudent fiscal position in 2010 is necessary to consolidate macroeconomic stability Tax reforms envisaged in 2009, which would help reduce distortions in the system, need to be followed through. Foreign investment can also help diversify Belarus’s production base and export market, and spread good business practices to the rest of the economy; • To attract investors, both foreign and domestic, conditions attached to new investment, including the requirement to keep the current employees and wage scale should be reduced; • Learning from other countries’ experience, the renewed drive can start with the enactment of a modern Privatization Law and establishment of a Privatization Agency charged with preparing enterprises for privatization, with the power to hire professionals from the market to support the process. Most likely you will be able to order a cup of coffee or call a taxi there. Increasing the commercial orientation of the banking sector would be essential to improve risk management and reduce banks’ vulnerabilities.
• Price controls need to be reduced to the minimum so that the price signal can direct the flow of resources and help adjust excesses and shortages in the economy, and most retail trade margins should be abolished in line with the government’s agreement with the World Bank; • Wages need to be liberalized to reward high productivity, and the labor market developed so that workers can move to jobs where they are most productive; • Mandatory quantitative targets at the macroeconomic and enterprise levels need to be abolished as it has become more difficult to manage an increasingly sophisticated economy through central planning; and. outside the tourist hotspots everything will be either in Russian or Belarusian. The situation is a bit different in buses, trams, and trolleys though. The mission believes that high and sustainable growth in future can be achieved with improvements in productivity and increased foreign direct investment. 16. Here is an example of how Google translates from English into Belarusian: Having concluded another round of consultations with Belarus authorities, the International Monetary Fund urges the Government to sell state assets, curb lending and raise utility prices to cope with the most serious economic crises in more than a decade.
A social safety net can be established to give subsistence and vocational assistance to the temporary dislocated labor force, until they are re-absorbed by the labor market. Press "Like" to read BelarusFeed on Facebook. The Article IV consultation discussions have focused on the longer-term issue of how Belarus can resume the growth performance of recent years.
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