Ex-National Bank head: Russian loan is harmful to Belarus
Former chairman of Belarus' National Bank reckons the Russian loan is about nothing but preserving the inefficient Soviet economy model in Belarus.
Ex-head of the National Bank Stanislau Bahdankevich has shared his opinion about the Russian credit with Eurobelarus.
Vladimir Putin promised to give a $2 billion credit to Belarus in 2014. The first $450 million tranche was allocated before the New Year’s Day. However, Belarus will not find the sum enough to last for even six months, Bahdankevich thinks. He also noted that the government is planning to sell enterprises: Mazyr oil-processing plant, Minsk wheeled tractor plant and MTS shares. The country is also receiving credits needed to build the Belarusian NPP.
The new credit is harmful to the country as it allows preserving the inefficient economy model instead of reforming it. However, the government may be able to keep the current stability in 2014.
The Belarusian rouble needs devaluation for foreign trade – to revive the export and the GDP growth. The dollar exchange rate should reach 11 thousand roubles (the maximum is 15 thousands) by the end of 2014, the expert thinks.
Photo: n1.by
