Lukashenko enlarges list of exporters to sell foreign currency.

26/7 Tass 347a

MINSK, July 26 (Itar-Tass) —— Belarussian President Alexander Lukashenko issued a decree to enlarge a list of enterprises, which are obliged to sell the foreign currency to the state.

The Monday presidential decree abolished several benefits in the compulsory sale of foreign currency being in effect up to now.

“Several benefits in the compulsory sale of foreign currency being in effect up to now are abolished due to the current situation on the internal foreign currency market and in order to provide equal conditions for all economic entities,” the Belarussian presidential press service reported.

Meanwhile, the decree envisages a higher percentage of foreign currency sold compulsorily to the state.

Belarussian exporters should sell 30% of foreign currency revenues and to keep the rest of it. In some cases economic entities were exempt partially or fully from the compulsory sale of foreign currency revenues.

Belarussian experts described the foresaid decision as one more instrument “to wheedle the foreign currency” out of the enterprises amid a sharp foreign currency crisis. Meanwhile, they believe that these measures to seize the foreign currency from the exporters will not improve the situation and the foreign currency deficit will remain alarming on the domestic market.

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