Foreign currency purchase restrictions may be lifted in Belarus

MINSK. March 18. KAZINFORM The restrictions on Belarusian importers to buy foreign currency may be lifted, Chairman of the Board of the National Bank of Belarus (NBRB) Piotr Prokopovich told media on 17 March; Kazinform refers to BelTA.

A recent decision of the Council of Ministers of Belarus and the National Bank allows Belarusian importers to buy foreign currency to import equipment worth €50,000 at most.

If the restrictions are lifted, Belarusian businessmen will not be able to work like they used to, Piotr Prokopovich said. There are over 7,000 organizations that import equipment in Minsk alone at present. The commodities they import are sold to Belarusian companies. The national currency earnings are spent on foreign currency, which is used to import foreign equipment again and again.

All enterprises, small and medium businesses should work with export in mind. Those enterprises, which are eager to do importing only, have no future in Belarus.

"These days businessmen have a great responsibility. The government has done its best to create all the conditions for them to do business and now those several hundred thousands of self-employed businessmen and small and medium companies that are registered in Belarus today should provide an effect. Self-employed businessmen should rethink their practices to organize effective manufacturing. Buying and selling things is a way to nowhere," said the NBRB head.