Belarus has a strategic location between Russia and the European Union (EU) and a well-developed transport system with a sufficient investment climate and highly skilled workforce. However, being highly dependent on Russia in energy, economy and finance and high state control on economic activities prevent to stabilize the economy. After a low growth path for years and increased macroeconomic volatility, the economy of Belarus entered a recession in 2015 and the economy contracted by 3.9%. GDP is expected to decline by 2.2% in 2016, but is expected to increase by only 1.5% and 1.3% in 2017 and 2018 respectively.
Hayal Ayca Simsek graduated from Public Finance Department of the Faculty of Economics and Administrative Sciences in Dokuz Eylul University in 1995 and she started working as a research assistant in Public Finance Department in 1996. Starting her master education in 1995, she completed this process in 1997 by presenting her master thesis namely ‘Alternative Fiscal Policies in Determining the Limits of Government’. Hayal Ayca Simsek started doctorate process in 1998 and completed this process in 2003 by presenting her doctoral thesis namely ‘Constitutional Economics As An Alternative for Achie