At An Inflexion Point?

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BMI View: Belarus has long lagged its regional neighbours in both macro-economic stability and living standards. There are signs that this could be on the turn though, after dicing with a severe external liquidity crisis in early 2007. Foreign direct investment levels are rising, and the state is slowly opening up its domestic economy to the wider world. Political reform continues to lag, though, with the government having little desire to liberalise the political space.