Belarus’ economic model looked rather successful in the late 1990s and in the 2000s with its economic growth above 7% per year. But during the last decade, Belarusian annual economic growth has fallen at the average level around 1% per year. This chapter reveals the rarely known case of state capitalism in this post-Soviet country with its specific indicators, and instruments behind economic anemia. It also outlines several traps on the way of Belarusian economic growth: “debt trap,” “middle-income trap,” “social burden trap,” “resource curse trap,” “conflict neighbors trap,” and “forceful pressure trap.” These pitfalls lead to the long-term economic slowdown in the Republic of Belarus. The consequences of such economic anemia bring to another discussion about the role of public values in support of state capitalism in Belarus.
Part of the book: Public Sector Crisis Management