No National Currency in Belarus Now and Ever Before, Tereshchenko

26.11.2010 10:55

Presidential candidate, the economist Viktor Tereshchenko said during his TV speech on November 25 that Belarus had never had  national money and so does it at present. "The system of hard, manual management of the country has already exhausted itself. And everybody feels it. The country is enduring growing problem, which are obvious to everyone," the candidate said.

According to Viktor Tereshchenko, the prices are rising constantly and incredibly fast in Belarus. «For example, a liter of milk cost Br25 in 1994, a loaf of bread — Br15 rubles, a kilogram of potatoes — Br10. There have been two denominations of money since then. Now a liter of milk and a loaf of bread in stores cost about Br2 thousand, potatoes — Br1.5 thousand. Denomination in the country has led to a price rise of milk in more than 800 thousand times, bread — more than a million times, the potatoes — a million and a half times, and the drugs — even higher over 16 years,» the presidential candidate said.

«No need to be a great economist. Life has taught us all: when wages and pensions grow before the election, expect rapid price increases right after the election,» the economist added.

We Work for the World Bankers, Not for Belarus, Tereshchenko

«Why do we produce more but consume less?» Where has it got to?» the candidate asks.

«The fact is that the Belarusian ruble is depreciating all the time.  The Belaruian ruble has depreciated against the dollar in more than 4.000 times for 16 years of manual control of our country. Protecting against inflation, our people are forced to trust foreign currency. Everyone, including the National Bank, accumulates dollars. Many people do not know, that dollars and euros are meanwhile depreciating. In 1994 the world price of a gram of gold was $ 2, while now — $ 4. Dollar has become four times cheaper than gold for 16 years. They enjoy our naivete. Buying up and storing currency in your country, we work for the world bankers,  not for Belarus,» Viktor Tereshchenko said.

He also noted that the devaluation of the Belarusian currency was explained by the incumbent President Alexander Lukashenko as a demand of the IMF. «That’s why Monetary Fund commissioners and various agencies beat their path to Belarus, publishing their ratings,» the candidate said.

Viktor Tereshchenko added that the foreign debt for every citizen of Belarus has already exceeded $2.6 thousand. «This is a critical situation,» the contender for the presidency says.
The candidate also remarked that the desire to take loans hinders the competitiveness of Belarusian enterprises and suggested that leaders and managers would reconsider their «credit» business plans, taking into account foreign direct investment.

Belarus Can Become a Colony for Capitalists, Tereshchenko

«Also there are errors in the tax system. Belarusian enterprise will not be able to sell its products, if American or Japanese competitors want to oust it from the market. We do not understand that countries with strong economies shouldn’t first interfere with the producer to manufacture and sell products, and then tax the profits. But we have to sell products without a profit, and even at a loss by dumping system applying in order to meet the requirements (plan),» the politician said.

«The power attracts foreign investments now to save the country. The President himself is looking for investors. Let us ask a question: why don’t the leaders of developed countries follow this way? Because this strategy has been developed by them for the backward states. It dooms the country to the role of the capitalists’ colony, a supplier of cheap and disfranchised labor force. Belarus  may create for itself the most complex national, racial and religious issues through this, which could be seen in the EU and the U.S.,» Viktor Tereshchenko said.

We don’t Need Foreign Paper Currency, Tereshchenko

Viktor Tereshchenko has said that the reform, he suggests, contains the key to the prosperity of the country.

First, in the opinion of the candidate, Belarus has to change monetary policy. «We have no need for foreign paper currency, and foreigners’ numbers on our accounts. We will be the country, revalued the domestic money secret, and will create strong national currency,» the economist said.

«At the same time we’ll strengthen our exports. It will no longer be hidden and unprofitable, as it is now. All bankable projects will be eligible for public investment through the sale of their shares to the state. This circuit will dramatically reduce the cost of production, increase competitiveness,» Viktor Tereshchenko said.

«This is the path that meets the interests of the people and the state, not foreign speculators of virtual currencies,» the candidate added.

We’ll Strengthen Our State without Ruckus and Strain, Tereshchenko

Secondly, according to the contnder for the presidency, it is necessary to improve the tax system. «The main source of revenue for the budget will be the increasing revenue from the government investment, which will make taxes decline in the country. Taxes for manufacturers will be primarily from income as a fee for the public resources, property, land and environmental taxes. Fair taxes for businesses and citizens, rather than benefits for the elite, would encourage the manufacturer,» Viktor Tereshchenko.

«The recruitment in compliance with labor laws will be restored in the sphere of individual entrepreneurship,» Viktor Tereshchenko said.

According to the candidate, there will be no need to raise the retirement age in Belarus. However, those , willing to work will be given such a right with the preservation of pensions, and business leaders will be banned to dismiss a fair employee due to the retirement age.

«Together we’ll strengthen our production and the state, without any strain and ruckus,» the presidential candidate promised.