To the list of articles12 august 2013
Belarusian Monthly Economic Review, №8(131), August 2013
In Jun-Jul, new shocks appeared which are likely to have negative consequences for the economy in the midterm perspective. First shock was a reduction of time deposits in the banking system. Depreciation of national currency against a background of increasing external trade deficit was a main reason of that. Such reaction of bank depositors was a demonstration of a chronic problem of Belarusian economy – real and financial dollarization. Therefore, the second shock of July – in potassium trade – bears a serious threat, as it affects foreign trade.
Other topics of the issue:
- Real GDP fell in the second quarter.
- Uralkali stopped exports through Belarusian Potash Company.
- Trade balance continues to deteriorate given slowdown in growth of exports to Russia.
- Reduction of time ruble deposits caused liquidity shortage of commercial banks.
The bulletin is available under subscription. Furthermore, it can be purchased online at Corporate Reports.