National Academy of Sciences of Belarus

12.04.2022

The Institute of Economics of the National Academy of Sciences of Belarus hosted a methodological seminar on the impact of the external and internal factors on economic growth

The Institute of Economics of the National Academy of Sciences of Belarus hosted a methodological seminar «Methodology and instrumental methods for analyzing and forecasting the influence of external and internal factors on economic growth using the tables «Input–Output».

Besides the researchers from the Institute of Economics, the seminar was attended by the external experts directly involved in the development of the most important documents of the socio-economic development of the Republic of Belarus, from the National Bank of the Republic of Belarus, the Ministry of Economy of the Republic of Belarus, the Research Economic Institute of the Ministry of Economy of the Republic of Belarus, the Center for Systematic Analysis and Strategic Research of the National Academy of Sciences of Belarus, Belarusian State University of Informatics and Radioelectronics, Belarusian State Economic University.

Opening the event, Director of the Institute of Economics, Doctor of Economics, Associate Professor Vasily Gursky emphasized the particular importance of the developing a methodology and specific applied tools for analysis and forecasting to determine the quantitative impact of ongoing changes in the external contour of the republic, measures taken by the government on the dynamics of the economic growth in Belarus. Such tools should provide an integrated approach to building national economic policy at the current stage of the economic development.

The speakers were Deputy Director for Research at the Institute of Economics, Ph.D. Alexander Gotovsky, Head of the Department of Economics, BSUIR, Ph.D. in Economics, Associate Professor Vladimir Parkhimenko, Director of the National Agency for Investments and Privatization of the Republic of Belarus Dmitry Krasovsky.

Reports were presented on the methodology for the analyzing and forecasting the impact of external and domestic demand on GDP dynamics, on the use of the interregional Input-Output tables for the analyzing global, regional and national production chains, on the assessing multiplier effects for the Belarusian economy based on the social account matrices.

Based on the results of the reports presented, the discussions by the external experts and the staff of the Institute, methods of the variant forecast calculations for the current conditions of the development of the economy of the Republic of Belarus were identified. The most sensitive to the changes in the external and domestic demand and the most significant sectors and industries for the Belarusian economy were described as requiring priority attention for the decision-making. The conditions for the ensuring the balance of the economic growth, taking into account the ongoing changes and the structure of the national economy were taken into account as well.

The results of the event will be used in the performance of the research work and the development of the proposals for the tasks of the state authorities of the Republic of Belarus.


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