Manipulations with exchange rate differences did not help Belarusian mechanical engineering to end year with profits

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April 22, 2016 19:38

According to the National Statistics Committee, due to writing off exchange rate differences, Belarus’ economic losses in September-October reduced by BYR 10 trillion. Despite the overall improved financial performance in the economy, mechanical engineering in January – October 2015 remained unprofitable. Consequently, lay-offs will continue, arrears in the economy will grow and payment discipline on credit agreements will deteriorate. The government is likely to provide financial support to the largest enterprises from the state budget. Amid persisting negative trends on the Russian market, demand for investment goods produced in Belarus is unlikely to increase in 2016, which will lead to a further deterioration of the financial health of the largest Belarusian machine-building enterprises.

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