Crisis Hits Belarus, Sinkevich Says

Next year is to be the most difficult time for the Belarusians.

The National Bank of Belarus presented new bills and coins to be used since spring 2016. Economist Aliaksandr Sinkevich believes that denomination is not the way out. Belarusian economics is in prolonged recession.

Industry proves to be in an extremely difficult position as well. There is no light at the end of the tunnel, the expert says. The government grapples with the problem, but their efforts can hardly result into something good:

“The government hopes for foreign loans and investors. But crisis that exists in the world makes the IMF to be very careful with loans. One of reasons for recession is close ties with the Russian economy. Their problems affect our economy as well,” economist told in his interview to Belsat.

One more problem, according to the expert, is in government’s non-support of promising spheres of industry, they invest money in unprofitable projects. It will not be the end, but the very bottom. Only those enterprises with foreign distribution area could survive, Sinkevich says.