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Toward Korea-Belarus cooperation in the ICT sector

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Frame of Image d to recover slowly. Besides external shocks, the Belarusian economy has a series of internal problems to overcome, namely, high inflation, decrease in Belarusian Ruble, and trade imbalance. Specifically, inflation rates recorded over 50% in 2011 and 2012. The currency significantly depreciated to 1/4 of the 2008 level. Still, the economy’s weak fundamentals are driving down the currency value further. The size of trade imbalance is not huge, yet its continuity is posing threats to the economy under the recent
slowdown.
However, the economic condition of Belarus is not solely pessimistic. Belarus’s GDP per capita in 2012 stood at USD 6,739. This surges to USD 15,479 when converted to PPP terms. The gap is the biggest among the members of the Commonwealth of Independent States(CIS). This can be interpreted that the living standards in Belarus are underestimated compared to that of other members of the CIS. In addition, the government has been making utmost efforts to attract FDI by improving domestic investment climate. Encouragingly, there are visible results that Belarus ranked 58th among 185 nations and was evaluated as one of the most progressed countries since 2005 in “Doing Business 2013.”
The main characteristics of the Belarusian
Toward Korea-Belarus Cooperation in the ICT Sector
2
economy were inherited from the Soviet era: a strong government sector and a firm base in the heavy industry. The structure of the economy is similar to those of other industrial countries.


Full Text
Title Toward Korea-Belarus cooperation in the ICT sector
Similar Titles
Material Type Reports
Author(English)

Min, Jiyoung

Publisher

[Seoul]:Korea Institute for International Economic Policy

Date 2014-06
Series Title; No World Economy Update / vol. 4(no. 24)
Pages 4
Subject Country South Korea(Asia and Pacific)
Belarus(Europe)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < IT
Holding KIEP