Lukashenka: No reasons for devaluation. Again?

The dictator again said there are no plans to devalue the national currency.

“It was news to me that some idiots, the so called expert community, say about the devaluation of the national currency in the name of modernisation. We do not have objective reasons for devaluation of the national currency,” Lukashenka said to journalists on Friday, Interfax news agency reports.

“Moreover, the National Bank chief reports that positive processes have appeared,” Lukashenka said. He explained that “people began to buy less foreign cash. The National Bank buys more foreign currency than sells.” “Why create new problems out of nothing to excite people?” he said.

Lukashenka added that “if someone thinks modernisation can be carried out at the cost of devaluation, we don't need this kind modernisation.” “I don't want the society to face periodic crises and shocks to construct a new building or set a new production line,” the dictator said.

It should be reminded that according to yesterday's report by Belarusian minister of economy Mikalai Snapkou, modernisation is expected to cause the national currency devaluation in 2013, because the balance of payment gap in 2013 can be compensated either by reducing the size of foreign currency and gold reserves of by devaluation.