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WB to present Belarus' business environment survey results in December

Economy 28.11.2019 | 15:58
Head of the World Bank Office in Belarus Alex Kremer, economists Kirill Gaiduk and Marina Sidorenko
Head of the World Bank Office in Belarus Alex Kremer, economists Kirill Gaiduk and Marina Sidorenko

MINSK, 28 November (BelTA) – In December 2019, the World Bank will present the findings of the Business Environment and Enterprise Performance Survey (BEEPS) in Belarus that was carried out by the World Bank and the European Bank for Reconstruction and Development (EBRD), Kirill Gaiduk, Belarus Country Economist at the World Bank, told journalists on 28 November, BelTA has learned.

“Improvements in the business environment, implemented since 2008, have helped the private sector to expand. Results of the survey confirm that private companies find the domestic business environment more favorable,” Kirill Gaiduk believes.

However, access to finance is still perceived as a constraint. Experience shows that government credit schemes have limited impact, while more systemic measures that enable funds to be channeled from lenders to borrowers can help alleviate the credit constraints facing businesses. “The survey points out that access to financing is a major obstacle as around 20% of respondents see it as a problem. At the same time representatives of the private sector noted that business environment in Belarus has become more favorable. Fewer than 7% of companies spoke about problems with licensing, while in 2008 this number was three times bigger,” Kirill Gaiduk noted.

The survey interviewed 600 companies. The goal of the survey is to provide feedback from enterprises on the state of the private sector and to assess the constraints to private sector growth and enterprise performance.

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