Refusal to peg Belarusian rubles to Russian currency will not affect Belarus’ economy, President says

A refusal to peg the Belarusian rubles to the Russian currency will not undermine stability of Belarus’ economy, President Alexander Lukashenko has told reporters today. “Only primitive economists-oppositionists consider the Belarusian economy to be unstable. Our economy will never collapse. I was saying this three and ten years ago. And I am telling you this now,” the Head of State noted. In turn, Chairman of the Board of the National Bank of Belarus Piotr Prokopovich explained that a refusal to peg the Belarusian rubles to the Russian currency is a technical issue. “Earlier we used to peg the Belarusian rubles to two currencies – the Russian rubles and US dollars. But the course of events shows that it is more effective to peg our rubles to one currency,” he explained. According to Piotr Prokopovich, “US dollars were chosen as Belarusians prefer to keep their savings in this currency.” “There is no any policy here or subjectivism towards Russia or the Russian Central Bank,” he underlined.

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