Stanislau Bahdankevich: Authorities Should Stop Justify Their Problems By Global Crisis

• 5.01.2017, 13:44

Permanency of power and lack of supremacy of law have led to the fall in standard of living of Belarusians.

According to BelaPAN, former Chairman of the National Bank Stanislau Bahdankevich said at a press-conference in Minsk on January 4, that economical situation in Belarus is "extremely bad".

"Stagnation, recession, fall in standard of living are caused by internal factors. Allegations to the international crisis mean nothing," – the expert said.

According to him, the global economy is growing by an average of 3% per year: "The Poles have been adding to their benefits since the restoration of independence of Poland, although at the beginning of the free development of their country we were at the same level with them, or maybe even at a slightly higher level."

The former head of the National Bank believes, that it was "the permanency of power and lack of competition and lack а supremacy of law that have caused the fall in standard of living of Belarusians."

"External debt has risen again – by 12%, although we haven't taken any credits. External resources are again spent on consumption," – the expert believes.

Bahdankevich believes that there are enough of talented people in any sphere in Belarus, who could carry out reforms.

However, their experience and groundwork are not put into practice and "go to archives, although they could create the foundation of the Belarusian economy."