Belarus loses $6bn on export decline

Without Russian oil, the country has no money to pay its debts.

Economis Leanid Zaika spoke to charter97.org about cuts in Russian oil supplies to Belarus.

“Six billion dollars is the money that Belarus didn't receive due to a decline in exports. There are many reasons for it, but oil supply cuts is not the main one. We need to live on our work rather than on Russian oil. The current volume of oil would be enough for domestic consumption, while the rest is Vladimir Putin's aid to Lukashenka. It's their games,” the expert thinks.

The economist is sure that the budget will be cut.

“If Lukashenka hadn't agreed on it, all those working on Independence Square [the parliament] and 38 Karl Marx Street (the president's administration] would lose their salaries. Six billion dollars more is needed to secure the Belarusian ruble stability. The country has to pay debts, prepare the Ice Hockey World Championship and so on at the beginning of next year. Six billion dollars is a big sum. It's a rare case that we don't receive this money in spite of our expectations,” the analyst stressed.

He added that the problems of the export decline and the budget cuts would be solved at the cost of taxpayers.

“I wouldn't say that fatty-faced owners of BMW X5 cars will suffer. It's students, pensioners and families with many children who will be affected,” Leanid Zaika said.

We remind that Belarusian deputy PM Uladzimir Siamashka said that Minsk would receive 23 tonnes of Russian oil less than it expected this year.