Former head of National Bank of Belarus Stanislav Bogdankevich believes that fx deficit should have ended long ago provided for the Government's fiscal policy, properly carried out in Belarus. "Frankly speaking, currency should have appeared in exchange offices long ago. It was necessary to comply with a simple condition for this: to set the fx rate based on supply and demand in the fx market," said the former head of the National Bank.
According to experts, one should hold a general session at the Belarusian fx market to solve this problem, as well as to gather all requests for foreign currency and to make state enterprises hand in currency to the stock exchange, reports «Narodnaya Volia.»
«The real Belarusian ruble-to-dollar rate is formed on the basis of supply and demand. It brings understanding of the initial rate, as well as currency influx in exchangers at an objective market rate,» said Stanislav Bogdankevich.
Ex-head of the National Bank is convinced that the Belarusians won’t be able to buy up cash currency at exchange offices, thus creating its shortages. «Such concerns are groundless. As the Belarusian will lack money on condition of the rate that will meet the requirements of the economy. Belarussian ruble is being devalued, and the real dollar exchange rate will push the purchasing power of the population to its decrease,» said the economist.
Nevertheless, Stanislav Bogdankevich believes that the authorities of the country are not ready for effective reforms. So the economy of Belarus is working based on decisions made by the Presidential Administration, but not on «common sense.» The recent meeting of the economist with Prime Minister of Belarus Mikhail Miasnikovich confirmed this ppoint, as he thinks.
«I have not heard that the government is ready to solve problems in the economy, putting it on the market » rails.» The control system of domestic economy remains of administrative-command nature. So it’s hard to predict when the economic crisis will come to an end,» said Stanislav Bogdankevich.
According to Telegraf, May 30, Prime Minister of Belarus Mikhail Miasnikovich discussed the situation in the country’s economy, as well as possible steps to overcome the crisis with former head of the National Bank Stanislav Bogdankevich. The Prime Minister invited him to informal cooperation, which is to provide periodic assessments of what is happening in the economy, from which Stanislav Bogdankevich, however, refused.
