Head of National Bank remains optimistic

But Belarusian banks have stopped granting of loans…
According to news agency Interfax, Belarusian state-owned banks suspended crediting of government programs. Belaproprombank and Belinvestbank have not issued such loans for the last couple years, Hanna Shareyka, a member of the Council of the Republic, said.
In her turn, commenting on the situation on the financial market Nadzeya Yermakova, Head of the National Bank of Belarus, noted: “The state budget does not affect the dollar rate. But the budget is influenced by the economy’s working. By the way, the dollar rate also depends on it – the more volume of exports is the lower the rate is”.
No issues for joy
Against the background of a general economic picture the National Bank Head’s optimism seems to be unfounded. In October it was reported about the slowdown of foreign trade balance which amounted to $385.7mln. The tendency was obvious in August, 2012: the balance might have been positive but it equalled only to $23.2 mln.
At the same time, the Belarusian rubel does not display any stability. The US dollar’s price has broken 8.500 barrier and is restrained artificially, Yermakova confessed. The reason for that is the fact that Russia put an end to the shadow export of oil products.
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