The President of Belarus said that the country’s budget has 70 billion rubles “to render targeted state assistance to the neediest." The people of Belarus will be given financial assistance in entering the single national currency. A corresponding statement was made by President Alexander Lukashenko, “Interfax” reports. According to Lukashenko, along with the ruble’s flat rate the government intends to address a set of measures for social support. In particular, state employees and non-working pensioners will be given a one-time payment of 99 US dollars. Recalculation of pensions will also be held on November 1. Previously, on August 30th at a meeting on socio-economic issues, Lukashenko also said that private businesses should prop up the state and share their super profits with it which resulted from soaring prices. In May, the government devalued the local currency by more than 50 percent against the US dollar to cope with the currency crisis, but it failed to overcome the US dollar deficit. Meanwhile, prices rose dramatically in Belarus and there were disruptions with imported goods, so the authorities had to turn to Russia and the IMF for loans.

Views: 156