Currency is not the cause of the crisis in the cars, and in the absence of new loans

Stir in the foreign exchange market will be held after the increase in customs duties on cars, which will take place on July 1. On Tuesday the head of Belarus Alexander Lukashenko during his working trip to Brest. Is the cause of the currency crisis in duties on cars? How large reserves of Belarus, if they can be cast to save cash market currencies? These questions are answered economist Boris Zheliba.

Tsigankov: Do you agree with the opinion of Alexander Lukashenko, the source of the currency crisis was the increase in duties on cars? Or is the problem not only in this?

ZhelibaOf course I can not share that view. Excessive demand for foreign cars — just one of the reasons that are convenient reasons to explain that the spot currency market is actually paralyzed. The main reason is that in recent years Belarus has no foreign exchange inflows in the form of loans. Latest IMF loan was long over, bond loans, which placed the Ministry of Finance (this billion 800 million) will drive a long time. And today, there is no foreign loans.

This clearly shows that our economy without foreign loans now can not exist. We do not cover the export of foreign currency needs of the country, and now it's all laid bare.

TsigankovAlexander Lukashenko also said that "the currency of the bins we will not take any more. Reserves — is sacred, we need to replenish them." There is a discrepancy between the Belarusian and international statistics. How many are still Belarusian gold reserves remained something which can be quit to save the foreign exchange market?

Zheliba: According to the latest data as of March 1, we have foreign exchange reserves of about $ 4 billion. But the currency component there — only 1.3 billion. This is a very little. Reinforce the money rate of the Belarusian ruble meaningless, or stay with zero. Today, we see that the National Bank can not provide commercial banks cash currency. And so exchangers operate so — that some people sit, while others are buying.

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