Strong Belarusian rouble may lead to losses in food industry and machine building
The situation has not changed
In June and July 2015, the Belarusian rouble depreciated against the Russian rouble by 11.1%. Enterprises in mechanical engineering and food industry are the main exporters to Russia with the Russian rouble being the contract currency. For Belarusian exporters, strong national currency means less rouble revenues from exports, losses from the supply of low-margin products due to poor diversification of exports, deteriorating financial health of enterprises, potential problems with servicing loans, wage arrears, and reduced tax revenues. In order to reduce losses, enterprises may delay payments on export contracts, which in the short term would lead to reduced currency sales on the market.
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Once a week, in coordination with a group of prominent Belarusian analysts, we provide analytical commentaries on the most topical and relevant issues, including the behind-the-scenes processes occurring in Belarus. These commentaries are available in Belarusian, Russian, and English.
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