As a result of the BCSE trading session on November 1, the dollar rate rose by Br80 (0.95%) to Br8.530. Meanwhile, the euro fell by Br70 (0.59%) to Br11.780 and the Russian ruble by Br3 (1.07%) to Br278.
President of Belarus Alexander Lukashenko believes that 90% of Belarus’ difficulties in the monetary sphere were triggered from outside. However, according to the head of state, the country’s open economy is unable to fully insure itself against external negative influences.
International experts disagree with the Belarusian president who states that the economic crisis is over in the country. Thus, the Ministry of Finance of Russia believes that Belarus will be able to overcome the financial crisis only by late 2012.
In turn, experts from the European Bank for Reconstruction and Development believe in even more pessimistic scenario with the crisis still burning out in Belarus. In October regional economic survey, published on October 18, the Bank downgraded growth forecast for the economy of Belarus for 2011-2012 due to the country’s balance of payments crisis.