Experts push for Belarusian rouble devaluation

Experts say that the economic growth in this country is provided by domestic demand. "With the expansion of domestic demand during the compression of the outer and the slowdown in the major branches of the real sector of the economy of Belarus has now formed a number of trends that disturb the macroeconomic stability"  BelaPAN quotes the publication in the latest issue of " Economic Bulletin ".

Economists point out that "the merchandise trade deficit that grows from month to month" leads to the deteriorating situation in the balance of payments . "Delay of devaluation of the national currency against inflation and the strengthening of the Belarusian rouble give a negative impact on the price competitiveness of Belarusian products," the experts conclude .


One of the negative trends, according to the experts, is the wage growth that is "significantly ahead of the trend in labor productivity ." As a result , the wage growth is achieved by reducing the profitability of domestic enterprises.

The specialists of the Research Economic Institute of the Ministry of Economy feel the need to " hold short-term gradual devaluation of the national currency by the amount of the devaluation of the Russian rouble against the U.S. dollar since the beginning of the year to improve the competitiveness of Belarusian products in foreign markets and the protection of the domestic market."