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Belarus suffering huge losses amid plummeting Russian ruble — Lukashenko

December 19, 2014, 20:39 UTC+3 MINSK
“It all depends on our people whether devaluation would occur or not, whether we send the ruble downhill or not," Belarusian President Alexander Lukashenko said
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Belarusian President Alexander Lukashenko

Belarusian President Alexander Lukashenko

© Mikhail Metzel/TASS

MINSK, December 19. /TASS/. Belarus is suffering huge losses amid the weakening Russian ruble, President Alexander Lukashenko said on Friday.

"We are suffering huge losses amid the plummeting Russian ruble as it is our main market,” he said, adding that 42% of Belarusian exports were going to Russia.

Along with this, Lukashenko tackled possible devaluation of the Belarusian national currency.

"Don’t rush with this ruble to the exchange offices and don’t exchange it for foreign currencies as it will bring consequences,” Lukashenko said, underscoring that “the situation is very serious.”

“It all depends on our people whether devaluation would occur or not, whether we send the ruble downhill or not, whether we crush it or not," he said in an address to the Belarusians.

“This process has the other end which will hit us on the heads — it is a growing demand for foreign currencies,” he said. “As the demand is on the rise, then the price of currency is on the rise, too.”

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