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Fiscal policy is one of the weighty instruments of state regulation and is intended to ensure the creation of an institutional environment to reach the strategic objectives of sustainable development. This chapter is devoted to the study of the implementation of tax reform in Belarus. It analyzes the place of tax instruments in economic growth and investigates the strategic direction of tax reforms. The actual tax policy in Belarus is determined by the requirements of the national strategy of sustainable development which aims to ensure a stable financial basis for the development of society, economy, and environmental management. The historical and economic conditions of Belarus require an assessment of the local peculiarities of the use of tax instruments, which are now in force in leading countries. Therefore the study of foreign experience is complemented by an analysis of local conditions. Tax policy must ensure and support changes in national economies related to globalization, informatization and digitalization of the modern world, while maintaining the ideas of social justice. As a theoretical and practical tool for improving the quality of the tax system through the modernization of the incentives system, the concept of tax expenditures as a part of the budget process was investigated.

The administrative structure of the Republic of Belarus; the main demographic, social, and economic problems currently encountered in regions, districts, cities, and other administrative divisions of the country; as well as trends and changes in regional development according to the statistics of spatial development of Belarus over the last quarter of a century have been considered. The legal and institutional framework established in Belarus for the formation, implementation, and improvement of the regional policy, as well as the related forms of state intervention in regional development (policies to minimize the effects of radioactive contamination in areas affected by the Chernobyl accident, environmental protection, town-planning and land-use policies) have been analyzed. The goals and objectives, subjects and objects, as well as the tools used by the Belarusian public authorities in the regional policy formation and implementation nationwide have been identified. The promising trends for its improvement pursued in Belarus have been formulated taking into account the foreign experience and the paradigm shift of regional development policy observed in the OECD member countries.

The aim of the study is to determine the key development stages of small entrepreneurship in Belarus depending on the impact of reformative activity of authorities on socio-innovative activity of entrepreneurs. Also we seek to determine the projective behavioral strategies of entrepreneurs in the context of contradictory socio-economic processes in Belarus.

Historico-sociological approach to the development of small entrepreneurship in Belarus is based on the analysis of books, articles, official documents and official statistics available mostly in the Russian and Belarusian languages. Expert survey is used as the most effective method of survey to predict further development of small entrepreneurship. Within the framework of the activity-structure concept, (T. Zaslavskaya) combination of both approaches allows presenting quantitative and qualitative changes in business structures in order to coordinate socio-economic progress.

In Belarusian transition economy the reformative activity of the authorities is absolutely dependent on politico-administrative influence. That is why the behavioral strategies of entrepreneurs are formed as reaction-adaptive behavior under mounting pressure of state policy.

The results are primarily applicable for post-Soviet republics and countries with transition economy.

This paper implies that in post-Soviet economies like Belarus socio-economic integration of entrepreneurs is overly dependent on politico-administrative activity of the authorities.

This study includes two approaches: historico-sociological and expert survey as a forecasting method. This sociological approach gives the opportunity to characterise the continuity in behavioral strategies of entrepreneurs.

This chapter considers world experience of the innovation sector transformation and describes results of the Belarusian innovation infrastructure development and transformation issues in the national economy. Suggestions on the ways and mechanisms focused on the efficiency improvement of innovation sector transformation on the basis of clusters and innovation networks in Belarus are presented.

This chapter focuses on the analysis of sectoral structure of the economy of the Republic of Belarus as well as on its structure by forms of ownership. The role of industry in national economy is highlighted. Dynamics and problems of its development are analyzed. It is shown that the share of services in GDP increases, while the share of manufacturing declines. Absolute size and share of the manufacturing employment trends down. The ongoing process of ownership structure transformation and the growing share of private and foreign ownership are featured. State-owned enterprises along with private enterprises with a state share comprise two-thirds of total industrial output, but this share is gradually shrinking. The industrial policy is viewed as an enabling factor of the country's economic development. Considerable attention is paid to the analysis of industrial policy of the Republic of Belarus, its goals and instruments as well as regulations. It is noted that the role of government in regulating the industrial structure of the economy is significant.

This chapter identifies features of foreign economic policy of the Republic of Belarus determined by its multidirectional external economic relations and participation in the processes of international economic integration.

It is noted that in the last decade there has been an active search for opportunities to shift the focus in foreign economic policy, including geographic redirection of trade and investment flows, intensification of the search for a “niche” and new ways of incorporating into the world economic relations system, progress toward the liberalization of trade relations by means of multilateral and bilateral interaction formats.

This section assesses the motivation for the boost of the foreign economic policy of the Republic of Belarus in the context of aggravated geopolitical situation and the growth of protectionist tendencies and identifies obstacles to its implementation.

This chapter discusses the positioning of Belarus in the international context of socioeconomic development based on an assessment of the country's dynamics in world rankings. The country's presence in the recognized world rankings and its holding high positions in them is an obvious advantage for achieving a favorable investment image. Ratings characterize the country's comparative position at the international level in a number of areas: from credit capacity to human capital development.

There has been analyzed the position of the Republic of Belarus in several recognized international comparisons, such as Human Development Index, Doing Business, ICT Development Index, Global Innovation Index, Sustainable Development Goals Index, Corruption Perceptions Index, Rule of Law Index, Worldwide Governance Indicators, and others.

However, Belarus is not yet participating in the international competitiveness assessment through such popular international ratings as Global Competitiveness Index and Global Entrepreneurship Monitor. The research findings show that the strongest aspects of the socioeconomic development of Belarus are in place due to the high educational level of the human capital development, gender equality, and the implementation of the UN sustainable development goals. The analysis also shows that the weaknesses of institutional environment and public administration do not enable the full implementation of the planned goals of socioeconomic development.

This chapter describes development and main achievements of the Belarusian IT sector which is today considered by experts to be the most promising and progressive part of the national economy. Special attention of the analysis is given to the governmental policy to stimulate information and communication technology sector growth through special legal regulations (e.g., High-Tech Park as favorable business environment for IT business since 2005) and efforts to promote transition of Belarus to the “IT country” through number of national programs and legislative instruments, including the President's Decree on Digital Economy Development (2017). Main scenarios of the Belarusian IT sector future development are proposed and analyzed, including risks and opportunities on such four paths as being the global IT development outsourcing provider; exponentially growing own software product companies; becoming the regional or even global cryptocurrency hub; integrating IT in all parts of the domestic economy in order to build Industry 4.0 and digital society.