Economy
Belarus has seen limited structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKASHENKO reimposed administrative controls over prices and currency exchange rates and expanded the state's right to intervene in the management of private enterprises. Since 2005, the government has re-nationalized a number of private companies. In addition, businesses have been subjected to pressure by central and local governments, including arbitrary changes in regulations, numerous rigorous inspections, retroactive application of new business regulations, and arrests of "disruptive" businessmen and factory owners. Continued state control over economic operations hampers market entry for businesses, both domestic and foreign. Government statistics indicate GDP growth was strong, reaching 10% in 2008, despite the roadblocks of a tough, centrally directed economy with a high rate of inflation.
However, the global crisis pushed the country into recession in 2009, and GDP fell 0.2%. Slumping foreign demand hit the industrial sector hard. Minsk has depended on a standby-agreement with the IMF to assist with balance of payments shortfalls. In line with IMF conditions, in 2009, Belarus devalued the ruble more than 40% and tightened some fiscal and monetary policies. Nevertheless, Belarus missed its 2009 budget targets with a deficit of less than 1% of GDP.
On 1 January 2010, Russia, Kazakhstan and Belarus launched a customs union, with unified trade regulations and customs codes still under negotiation. In late January, Russia and Belarus amended their 2007 oil supply agreement. The new terms will raise prices for above quota purchases and increase Belarus' current account deficit.
Source: World Factbook |
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 Belarus Fashion Week / Belorussian Fashion Week
Oct 4-9, 2010 |
First Belarus Fashion Week / Belorussian Fashion Week (BFW) takes place in Minsk, Belarus |
Events Creation and Management:
Crystal Nymph Fashion & Beauty Center and the Open Defile Project
Partners – jewelry company «ZORKA», Interactive TV «ZALA»
 The Crystal Nymph Fashion & Beauty Center is proud to announce its organization and launch of the very first Belorussian Fashion Week (BFW). October 4-9, 2010 will be the first time this international event will take place in Minsk, Belarus.
Belorussian Fashion Week's primary objective is to draw attention and a professional approach to fashion through the presentation of fashion collections created by Belarus’s leading fashion designers. Taking part in this first edition of the fashion week is famed Russian couturier Vyacheslav Zajtsev and other guest designers from Russia, Ukraine, Norway, Poland, Lithuania and other countries who will also stage catwalk shows.
Fashion Week will take place with the support of Russian and Italian embassies in Belarus and a big number of international fashion weeks, their producers, directors and specialists. “It is our sincerest hope that from the very start, the Belarus Fashion Week and its related events will attract a considerable amount of renowned fashion critics and important actors working in the various fields of the fashion industry ”, says Yanina Hancharova, Project Director at the Belorussian Fashion Week.
Lectures on style and photo-exhibitions will also be conducted during the Belorussian Fashion Week. Charitable shows by students from the Academy of Arts, the Belarus Union of Designers and many other different professional fashion events will also take place during official fashion week.
October 2010 will be the official “kick off” month of this new and exciting Fashion week. Like others in Paris, New York, London and Milan, the Belarus Fashion Week will be organized twice a year and will display collections for Fall/Winter and Spring/Summer. |
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