Government tracks situation on foreign currency market

Prime Minister Mikhail Myasnikovich states that balanced exchange rate for Belarusian Rouble will be achieved in coming months

Attending a solemn awards ceremony, for the ‘Best Entrepreneur: 2010’ Republican Contest, Mr. Myasnikovich stressed, “We’ll achieve a balanced rate for the Belarusian Rouble in the next couple of months.” He added that the Government won’t follow the interests of importers and profiteers, leaving the Belarusian Rouble free floating. “Our economy — based primarily on foreign trade — is not yet adjusted to this regime,” he noted.

Mr. Myasnikovich explained that stability for the Belarusian Rouble is possible on creating certain conditions — including a safety cushion of gold and currency reserves (planned for the near future). A stable reduction of the deficiency in foreign trade and inflow of foreign currency are also vital in the long term. “In May 2011, for the first time in many years, we saw a positive balance of $117m,” the Prime Minister explained, adding that the Government and the National Bank continue to track activity on Belarus’ currency market.

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