• Evidence Based Policy - Macroeconomic Research Center

In recent years, in assessing the economic efficiency of the activities of managers and organizations in Belarus, there has been a shift  not towards  the use of  gross indicators but towards the use of the qualitative indicators. But, first of all, the Belarusian economy is not a market economy, because the prices are tightened to the cost of  labor. The GDP indicator  only  makes sense  in conditions of free market prices. So the definition of “added value” in Poland, for example, reflects something completely different than in Belarus. Secondly, in the methods of assessing the activity of workers in the “vertical”, the gross indicators remained along with the qualitative indicators. The shaft and planning “from what has been achieved” drive the country into a narrow “track of development” and can ruin the Belarusian economy, as it did with the economy of the USSR.

Full article on Ekonomika.by

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