Belarusian business loses $3 billion within a month

Exchange rate losses take the biggest part.

Belstat launched shocking data on financial results of work of Belarusian companies in January 2015. Net loss of nearly 8 000 companies has amounted to Br42.9 trillion, that's $2.98 billion. Banks, insurance companies and state-financed organizations, as well as small business are not mentioned in the statement, Nasha Niva reports.

28.6% companies made losses. As of January, average losses of each company made Br7 million.

By comparison, a year ago Belarusian companies had a net profit of about $260 million.

"Exchange rate losses take the biggest part, economist Siarhei Chaly explains. - This is accounting losses that can be written-off within two years by reducing profit".

It should be reminded that December-January turned to be quite stressful for Belarusians, both for citizens and business, as well as for high-ranking officials. During these two months the country had a 30% fee when buying currency, or so-called "non-devaluation", ban for individuals to buy foreign currency on the over-the-counter market, the lack of currency in exchange offices, freezing prices, phased fee revocation and finally legitimation of 30% devaluation of the Belarusian ruble with its further fall to minus 38%.