Small And Medium Enterprises. Belarus Economy Monitor

• The consolidated BCI value remained neutral, and it was 49.76 in December.
• The components of the composite BCI had multidirectional dynamics: the index of expected economic performance changes and the index of employment changes indicated growth; the index of production/orders/sales indicated decline; the index of expected financial standing changes indicated no changes.
• The average score of the current risks of doing business in Belarus amounted to 3.64 in December, and it did not change significantly compared to June.
• The Access to Finance index was 50.92 (neutral). Only 19.9% of respondents applied for a loan over the past three months.
• The main impediments to expanding business activities are high uncertainty of economic environment, macroeconomic instability, low demand, and a lack of qualified personnel/management. The top five also included the “other” option, which was dominated by the pandemic consequences (closure of state borders, disruption of supply chains, etc.), rising prices for commodities / raw materials, sanctions, and personnel drain.

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