bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Ceturtdiena 28.07.2016 | Name days: Cecīlija, Cilda

Panic ensues amongst Belarus residents after 56% devaluation of national currency

FaceBook
Twitter
Draugiem
print
(+1 of 1)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUBelarus National Bank has announced 56% devaluation of its national currency – the Belarusian rouble, thus evoking panic amongst Belarus’ residents, hurriedly stocking up food and other goods.

According to the National Bank, Belarusians spent Monday, May 23, nervously queuing to buy up food and petrol because from Tuesday, May 24, it will become on average 20% more expensive and diesel will spike 24%, reports BBC.

The currency was devalued to replace several Belarusian rouble rates with one and reduce the pressure on the national currency. From May 24, the exchange rate against the dollar will be 4 930 roubles, but against the euro – 6 914.82 roubles, meaning the roubles will drop 56.3% and 53.1% against the dollar and the euro, respectively.

The National Bank dubbed the decision as the macro-economic adjustment aimed at the alignment of internal unbalance and the internal currency market stabilization.

Belarus citizens opt for spending all the available money and savings, considering these funds to be already worthless.

One Belarus resident bitterly indicated his neighbours bought large quantities of sugar and salt during the previous week, but he only laughed at them, because the news on TV said warehouses are full and there will be no deficit.

Regarding money, Lukashenko repeatedly pointed out that in case of devaluation, the population will be timely warned.

The panic caused by people snatching out food, matches, furniture and household appliances occurred in several regions of Belarus already two weeks before the official devaluation.

 

 


Leave a reply

  1. Ren says:

    This is government’s fault –it had to warn the people prior to devaluing the currency.

    Thumb up 0 Thumb down 0

    • bob says:

      Can you please advice me that i am living in Moscow should i do investment in Belarus right now should i buy some apartment over their? in this crises i think the prices of property have devalue. What will you advice me.

      Thumb up 0 Thumb down 0

FM: this year’s tax revenue is 22.9 million higher than planned

Latvia completed this year’s six-month tax revenue budget plan by 100.6%, exceeding the previously planned revenue by EUR 22.9 million. Compared with the first half of 2015, tax revenue has increased by EUR 183.3 million or 5.4%, where the largest increase was provided by labour tax, VAT and excise tax revenue.

Fewer students and scarcer degree programmes in Lithuanian universities

Fewer applicants, fewer admissions and therefore scarcer study programmes this year, but the number of Lithuania’s high schools - colleges and universities- remains at a record-high number, 47.

Lido concluded 2015 with revenue of EUR 1.9 million

Last year, Lido Group’s turnover grew by 9% and reached EUR 38 million. Lido Group’s net revenue reached EUR 1.9 million in 2015. Lido Group’s companies paid the country EUR 10.7 million in taxes, putting the company among Latvia’s 100 biggest taxpayers.

Latvian authorities intercept a shipment nearly 759,000 contraband cigarettes

During a routine inspection at a border checkpoint connecting Latvia with Russia and Belarus, officials of State Revenue Service’s Customs Administration intercepted 794,960 contraband cigarettes.

Household consumption expenditure in Latvia up 5.4%

Household consumption expenditure comprised on average EUR 316 per household member monthly – 16 euros or 5.4 % more than in 2014. Considering 0.2 % increase of the consumer prices, consumption expenditure at constant prices rose by 5.2 %.

Weddings in Vilnius held near WWII concentration camp

Historic military compound the Seventh Fort in Vilnius, Lithuania has become a popular site for weeding parties and children summer camps, but, according to Israeli press, a Nazi German concentration camp had once stood there.

Kolegova is confident businessmen will support her as head of SRS

Inga Kolegova, head of State Environmental Service, who has agreed to become a candidate to lead Latvia’s State Revenue Service, is confident that businessmen will support her, as she told journalists after her meeting with the Latvian Employers’ Confederation and Latvian Free Trade Unions Association.

Head of Latvia’s State Land Service submits resignation

Director General of the State Land Service Elita Baklane-Ansberga has submitted her resignation to Justice Minister Dzintars Rasnacs. Baklane-Ansberga explains her decision with personal reasons.

Rotation of SRS workers still has not been finished

Rotation of 39 workers of the State Revenue Service in Latvia has yet to be completed. The process originally began at the beginning of May, as reported by LNT.

Hiroshima asks to remove nuclear bomb memorial from Pokémon Go

The municipality of Hiroshima city in Japan, has noticed that players of Pokémon Go are playing the augmented reality smartphone game near the nuclear bomb attack memorial site.

Deutsche Bank registers large fall in profits

Germany’s biggest lender Deutsche Bank has in the second quarter of 2016 registered a large fall in profits and has stated it could continue cutting of expenses in an unfavourable economic environment.

Lembergs joins the ranks of Latvia’s wealthiest pensioners

This summer criminally accused Aivars Lembergs officially reached pension age and joined the ranks of Latvia’s wealthiest pensioners. According to Lembergs, his pension is approximately EUR 6,000 per month.

Turkish authorities shut media organisations continuing post-coup crackdown

Authorities in Turkey stated on July 28 that dozens of media outlets would be closed in relation to the attempted coup on July 15.

Average age of vehicles imported to Latvia increases

Imports of used cars to Latvia have been declining in the past 14 years – 21,271 used passenger light cars (M1) were registered in Latvia in the first half year of 2016, which is 9% less in comparison with 2015. The number of light commercial cars (N1) registered in Latvia has declined 9% to 1,547, as compared with 1,705 cars in 2015.

SRS: this year’s budget revenue plan is 99.5% completed

The administered budget revenue plan of Latvia’s State Revenue Service for the first six months of 2016 has been completed by 99.5%, according to information from SRS.

Estonia-based drug packaging factory sold to Swiss firm Acino

Japanese drug manufacturer Takeda Pharmaceutical Company has announced the sale of its medication packaging plant operating in Põlva, Estonia, to Swiss drug maker Acino.

Supreme Court satisfies Revalde’s appeal

Supreme Court of Latvia has satisfied the appeal submitted by Gita Revalde in relation to the Administrative Court’s refusal to accept her plea on the decision to dismiss her from the post of rector of Ventspils University College. The Supreme Court has ordered the Administrative District Court to view the case again.

Construction costs down 0.2% in Latvia

Compared to May, the level of construction costs in Latvia had increased by 0.3% in June 2016. Labour remuneration of workers increased by 0.9% and prices of building materials grew by 0.3 %, whereas maintenance and operational costs of machinery and equipment did not change significantly.

Savings accumulated in private pension funds and funded pension plan grow in Latvia

Finances accumulated in state funded pension plan continue to increase in Latvia – the volume of accumulated finances has grown by EUR 102 million in Q2 2016. With that, the overall amount of money in pension funds has exceeded EUR 2.5 billion.

Estonian voluntary troops grow by 380 members this year

A total of 384 volunteers have engaged in Estonian Defence League and its associated military organisations during the first half of 2016.

Latvia’s economy loses EUR 20 million annually because of counterfeit alcohol

Latvia loses EUR 20 million annually because of counterfeit alcohol. Its proportion on the market of strong alcoholic drinks and wine is approximately 9%, as concluded in the report by European Union Intellectual Property Office.

Two Armenian opposition militants surrender after holding police station for week

Following a shoot-out, two men from a group of opposition militants, who have been holding the building of a police station in Yerevan, have surrendered to the police in Armenia.

After a week of violence, Germans warned not to brand all migrants terror threats

Following a week of bloodshed in Germany, which ended with a suicide bomber wounding 15 people on July 24, the country’s federal government urged the population not to perceive all migrants as being dangerous.

Dismissed SRS Customs Administration manager Kravalis could be reinstated in his post

It is possible that former head of the State Revenue Service’s Customs Administration Talis Kravalis, who was dismissed in spring 2015, could be reinstated in his post, notes Finance Minister Dana Reizniece-Ozola.

Delna submits second plea to court on allocation of emission quota money to Ventspils

Delna society for openness has submitted a repeated (added) plea to the Constitutional Court on the non-compliance of the Ventspils concert hall project with environmental improvement goals.