Economy Minister Snapkou: Devaluation is not good for national currency
Belarus economy minister says there is no macroeconomic reason for matching the devaluation rate with the rates in Russia and Ukraine.
Belarusian enterprises will not benefit from faster devaluation of the national currency like in Ukraine and Russia, Belarusian Minister of Economy Mikalai Snapkou told Belarus-1.
According to the Minister, the fast devaluation rates in our neighbouring states have affected some of our machine building enterprises using Russia as their main product market, he said. However, Belarus is not going to change the devaluation rate for them, i reports.
Devaluation would not produce any positive effect on the Belarusian economy and would even make it worse for the industries working for the domestic market, RIA Novosti quotes Snapkou. There is no macroeconomic reason in trying to match the Belarusian devaluation rate with the Russian and Ukrainian rates, the Minister stressed.
The decreasing exchange rate of the Russian rouble is negatively affecting the Belarusian export, Belarusian PM Mihail Myansikovich claimed earlier. 92% of the export proceeds made in Ruusia is in Russian roubles.
Photo: Fotolia
