Lukashenko has allowed Belarusian enterprises to sell foreign exchange earnings :: Economy :: RBC

At the end of 2014 on the background of the collapse of the Russian market, the rate was increased from 30 to 50%, then Minsk is gradually reduced

Alexander Lukashenko

(Photo: Mikhail Metzel / TASS)

President of Belarus Alexander Lukashenko signed a decree abolishing the provision on mandatory sale of foreign currency earnings of Belarusian enterprises, reports Reuters.

The Agency says that this is the norm led to the formation of the supply of foreign currency on the Belarusian stock exchange, however, was to restrain the growth of the Belarusian economy.

In December of 2014 on the background of the collapse of the Russian ruble national Bank of Belarus decided to raise the share of mandatory sale of foreign exchange earnings from 30 to 50%. Also, the regulator decided to introduce a fee in the amount of 30%, which are levied on purchase of foreign currency by individuals and organizations. At the same time the regulator announced a temporary suspension of foreign exchange transactions on the OTC market.

In the following year the government began to reduce the size of the mandatory sale of foreign currency earnings. In February 2015 it was reduced from 50 to 40%. By the end of 2017, it was only 10%.

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