Chronicle of crisis
The global financial crisis will have a more serious impact on Belarus than on other countries. The crisis is knocking out the crutches ineffective “Belarusian model” has been holding on. The bottom, our economy will be falling down to, may be deeper than in other countries if the economy isn’t liberalized, famous Belarusian economist Leanid Zlotnikau said.
Topic: Chronicle of crisis
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13:15 EU begins competing with Belarus in Russian powdered milk market 26
In spite of close distance and absence of customs duties Belarusian products do not cost less than European and New Zealand ones.
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9:52 Heat is no obstacle to printing press 16
Over the year the loan debt of Belarusian enterprises to banks has grown by factor of 1.32.
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15:07 Around Europe with stretched hand 24
The Belarusian delegation including leaders of the financial and economic blocs of the government has gone on a one-week tour to Western Europe.
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10:19 Lukashenka signs Customs Union 56
However, the Belarusian ruler still demands not to impose export duties in mutual trade.
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9:34 New “war” caused by duties on oil products? 47
The government demands to ban collecting duties by Russia, as it “hits Belarusian enterprises painfully”.
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11:10 Mayorau: No more need for Gazprom delegation to come 8
Beltransgaz and Gazprom plan to sign a supplementary agreement to the gas transit contract on gas transit for 2011 in the nearest time.
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9:26 Belarus’s interests were impinged upon in issue of oil duties as well 5
Justice Ministry is sorry about the decision of the Economic Court of the CIS to deny granting the motion on temporarily ban on collecting duties on oil products.
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11:17 Beltransgaz pays only for May 19
Beltransgaz has paid $ 260.134 million for the May gas deliveries.
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11:09 Lukashenka’s instruction to shutdown transit violates Energy Charter Treaty 26
Europe has stated that the Belarusian leader does not have a right to shut down gas transit.
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14:19 EC calls emergency meeting over Russia-Belarus gas dispute 7
Europe hopes supplies to the European Union won’t be affected and expects the parties to fulfill the contractual obligations.
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14:09 Ukrainian Prime Minister: We can increase gas supplies to Europe 4
Ukraine can additionally transport to Europe from 15 to 30 billion cubic metres of Russian gas annually.
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9:45 War going on: Gazprom cuts gas supplies to Belarus 30% 54
As Belarus failed to pay for gas, the supplies cuts have been extended on Tuesday morning.
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22:27 Gazprom may cut 85% of gas supplies to Belarus 55
Russia is not going to handle Belarus with gloves if the latter doesn’t pay its gas debt.
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12:40 US Dollar exchange rate reached 3020 Br 15
At the close of trading on June 17 the exchange rate of the US dollar reached it historical maximum, 3020 Br.
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8:40 Oil from Chavez - adventure and provocation 38
The plan to deliver oil to Belarus could be a result of Lukashenka and Chavez' inclination to eccentricity and provocation.
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8:37 Gazprom threatens to cut off gas for Belarus 52
Moscow and Minsk can fall out over gas again. Belarus does not pay the contract price, but 50$ per 1000 cubic metres.
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9:58 Poland thinks Lukashenka’s economy may go bankrupt 33
Reports about Belarus’s high external debt give Poland a reason for concern.
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14:39 Bankrupt regime forces Belarus into debts 39
By his decree Alyaksandr Lukashenka has increased the limit of the external government debt from $9.6 mln to $11 mln.
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12:48 No money: Great sales of state property started
The Belarusian authorities say the country is ready to sell Russia Naftan refinery and Beltransgaz’s controlling stake.
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18:23 Gold and currency reserves of Belarus decrease despite of IMF credits
In March gold and currency reserves of Belarus decreased by $170 mln.
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11:50 Grassroots protests of entrepreneurs in Minsk and Brest 34
Workers of Zhdanivichy car market, one of the biggest market in Belarus, went on strike.
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8:40 Lukashenka’s economy is bankrupt 20
The gross external debt has reached 22 billion, with Belarus’s stability boundary being 19 billion, economists say.
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14:04 National Bank of Belarus hasn’t stuck to its word to IMF 9
The National Bank of Belarus increased the number of sponsored agricultural enterprises from 11 to 14, thus violating the promise to the International Monetary Fund.
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10:13 Bahdankevich: Banking system may collapse at any moment 33
The former chief banker of Belarus criticised the credit policy conducted by the National Bank.
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15:14 Bahdankevich: if Belarus decides to abandon national currency, it should choose euro 23
The former head of the National Bank is sure that Belarus should orient on the West, not on the East in prospect.
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9:33 Mass dismissals prepared at MAZ plant 66
5,000 persons can be dismissed from Minsk Automobile Plant (MAZ).
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9:45 Belarusian enrteprises work for warehoused: view from space (Photo, video) 46
Warehouses of Minsk Tractor Plant filled by hundreds or even thousands of unsold tractors
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16:44 Belarus’s GDP in dollars dropped by 19% 25
The authorities hide catastrophic decline in economy behind trillions of Belarusian rubles.
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12:18 Government budget lacks 200bn rubles in January 24
The Ministry of Finance of Belarus has founded missing of large tax revenues in January.
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13:47 Mocking “minimum” 64
The Ministry of Labour and Social Protection of Belarus issued a regulation establishing sizes of minimum consumer budget in average prices of December 2009.
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12:50 Demands for foreign currency far exceeds supply 65
Demand for foreign currency far exceeds supply at the Belarusian Currency and Stock Exchange that is similar to the situation a year ago. Moreover, on January 26, the dollar repeated the record of last July.
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11:32 Belarus called “economically not free” 8
Belarus took 150th position in the annual Index of Economic Freedom, released by The Heritage Foundation.
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17:04 Belarus’s foreign trade volumes show drastic decrease
The volume of Belarus’s foreign trade with several countries significantly decreased in January–November 2009.
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11:34 Belarusian journalists instructed to write “correct” articles about crisis 3
Belynichy district executive committee is alarmed by the independent newspaper “Pahodnya” writes about problems with wage payments.
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10:51 Zalesski: “Regime fights with adverse balance with the help of mantras and magic words” 7
Independent economists do not believe in forecasts of the government that adverse balance of foreign trade would be reduced, and say that it is to grow.
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13:07 Conflict with Russia as a way of obtaining credits 15
Alyaksandr Lukashenka has signed a number of laws on ratification of agreements in the framework of the Customs Union, despite of the “oil war” with Russia.
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8:56 Belarus ready to cut transit of electricity to Lithuania and Kaliningrad 11
Belenergo is not satisfied with Russia’s intention to hold talks only after January 10.
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12:57 Belarusian businessmen do not believe in “liberalization” of economy 12
Representatives of the Belarusian business are convinced that the authorities will give more promises but won’t change their attitude towards businessmen in 2010.
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12:35 Belarusians reduced to indigence and do not trust government 37
The economic crisis has become problem number one for most Belarusians. Mistrust to authorities is growing.
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11:27 Reuters: Russia halts oil flow to Belarus
Russia has halted supplies to Belarusian refineries after negotiations on oil export to Belarus, Reuters reports.
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11:29 Only Ethiopian birr is weaker than Belarusian ruble (Diagram) 19
Over the year 2009 Belarusian ruble was devaluated against US dollar at almost 30% and become weaker in relation to many currencies.
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11:12 Every Belarusian owes $2000 42
The general foreign debt of Belarus is to rise beyond 21 billion by the end of the year 2009.
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10:09 Andrei Sannikov: “Bankruptcy of the regime became especially evident amid crisis” 12
The authorities are working out a new national security system. The opposition thinks the securities measures are measures to protect the current regime.
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14:01 Russia delivers ultimatum on oil 54
The Russian first vice premier warned the Belarusian authorities the country must pay for oil on European prices, if a contract with Russia is not signed until January 1.
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10:26 Business: Nobody knows how deep the crisis is in Belarus 23
The government hasn’t supported a number of market initiatives of the business. Businessmen state that the authorities cannot estimate the state of the economy realistically.
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14:08 Russia’s ambassador Surikov: “We’ll work not with opposition but with Lukashenka” 46
Russian ambassador doesn’t like the anti-dictatorial mood of the Belarusian opposition.
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9:33 2010 to become most difficult for Belarusian business 16
Such a disappointing forecast has been made by the largest unions of businessmen of Belarus.
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15:05 Russia to increase gas prices for Belarus and not to allow earning on oil 22
Russian vice premier Igor Sechin made a number of loud statements on Belarusian-Russian economic relations.
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11:09 National Bank admits: Foreign debt beats record 34
As of October 1, the total foreign debt of Belarus amounted to $19,298,500,000.
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13:19 Lukashenka’s forecast of economic development is heart attack for factory directors 48
The Belarusian leader has approved economic development forecast for 2010 is growth 11-13%, but this task is impossible.
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