Lukashenka: No massive devaluation in Belarus

There will be no massive devaluation in Belarus.

Lukashenka said as he answered the questions of the MPs after his State of the Nation Address to the Belarusian people and the National Assembly on 22 April.

“We do not plan any avalanching devaluation. We will do our best to avoid it,” he assured. He added that there are no plans to conduct devaluation in an administrative way as it was, for instance, in Kazakhstan. “If we see it is necessary, if we see that we do not have gold and foreign currency reserves or they go beyond the critical level, we will hold devaluation, calmly. If we add some 5-6% more by the end of the year, it will be great,” he said.

Lukashenka viewed the gossips about the devaluation of the national currency after the IIHF World Championship as nonsense.

When asked on the impact of external factors on the competitive ability of the Belarusian products, the head of state stressed that amid the economic crisis conditions companies should work on the quality of the product and reduction of its prime cost. “I am sure that we can reduce at least 25% in the prime cost of the product.”