Updated at 11:50,16-10-2017

Belarusians spending rainy day foreign money to survive

Volha Zharnasek, Belsat

Spending the foreign currency hidden for a rainy day on survival. Many Belarusians have faced this reality in recent years.

Over the past month the Belarusians exchanged almost twice as much foreign currency than there was sold. National Statistical Committee estimates that since the beginning of the year the population has sold more than $ 5 billion. As a result, net sales of foreign currency has exceeded $ 1 billion. According to the economists, spending foreign currency savings is directly related to the economic situation.

“These people do not have other income except the foreign currency. What should they live from? They spend the currency,” said economist Mikhail Zaleski.
According to his calculations, our compatriots transfer into the foreign currency the sum equivalent to over $ 1.5 billion per year. Foreign money, the expert believes, is the best way to keep savings in Belarus.

“If a person has any plans for more than six months, they can only store money in foreign currency. It should be noted that the Belarusians like the US dollar more than the euro,” said Mikhail Zaleski.
At least those who have the money for exchange. A significant part of the society in general is unable to save money.

It is becoming more and more difficult to live on the budget salaries and pensions. Just in the first half of the year, the real incomes of Belarusians officially fell by 7%.