Constitutional and Legal Basis for Privatisation and Denationalisation of Property in the Republic of Belarus

Abstract

The article deals with the peculiarities of constitutional and legal regulation of ownership relations in the Republic of Belarus at the present stage, the process of implementation of state policy in respect of denationalization and privatization of state-owned property. The author’s definition of ownership is given. Stages of the privatization process are defined. At the first stage (1991–1993) the state pursued largely fiscal aims by receiving non-tax revenues. The second stage (1994–2008) was characterised by the country’s transition to a market economy, an increase in the share of private property, and an increase in business ownership. The third period (2008 — present) is characterised by the active development of stock market instruments, which are shares of reformed enterprises. Both positive results and problems in the reform of state ownership are highlighted.