State and Features of Socio-economic Modernization of the Republic of Belarus

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Abstract

Today the issues and problems of socio-economic development of the Republic of Belarus, its modernization, the use of tools for implementing theoretical, methodological and practical aspects of the national economy development, macroeconomic regulation in the country in the context of performing tasks of a socio-economic nature, institutional mechanisms for ensuring sustainable economic growth of Belarus remain extremely relevant and contain considerable potential for further scientific research.


Over the 30 years of its independence, the Republic of Belarus has experienced a decline in the 90s of the twentieth century, caused by the severance of socio-economic ties with other components of the unified state before, as well as a number of crises that had a political basis of external and internal nature. Based on this, the need for modernization of the country became more acute for the legislative and executive authorities. The agenda includes improving the macroeconomic situation in the Republic of Belarus in the context of fulfilling the tasks of socio-economic development. Institutional mechanisms to ensure sustainable economic growth continue to require change and development.


A program-based approach to socio-economic modernization is recognized as one of the main elements for solving the set of tasks in the Republic of Belarus. Given the importance and determining role of the manufacturing sector in the formation of the country’s GDP and the role of economic balance, the need for state support for production and infrastructure facilities that can serve as the basis for rapid economic recovery is proved.


Based on the conducted research, there is drawn attention to potential risks for the national economy and directions for their neutralization, certain aspects of the country’s external partnership, are considered, as well as demographic development of the state in the context of its impact on the development of Belarus in the future. There are noted positive and negative aspects of the development of the modern Belarusian State.

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How to Cite
Bogdanovich, I. (2021) “State and Features of Socio-economic Modernization of the Republic of Belarus”, Problems of World History, (16), pp. 124-142. doi: 10.46869/2707-6776-2021-16-5.

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Articles
Author Biography

I. Bogdanovich

Bogdanovich Ivan – Ph.D in Economics, Associate Professor, Deputy Director for Scientific and Organizational Work and General Issues of the State Institution “Institute of World History of the National Academy of Sciences of Ukraine”.

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