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Belarus deputy economy minister seeks investment to counter external woes

Belarus’s first deputy minister of the economy, Alexander Zaborovskiy, explains how a flexible exchange rate scheme and a more attractive investment environment can help the country survive knock-on effects of the economic difficulties facing neighbouring Russia and Ukraine.
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Q: The Belarusian economy is strongly linked to those of Russia and Ukraine. How significant is the impact of the economic downturn in the two countries on Belarus?

A: We are very strongly integrated within the region. We are linked to the Russian market, we are linked to the European market, we are very closely interacting with Asian companies, including those from China, and when we see the sharp devaluation of the Russian rouble, of the euro; when we see the depression and deep crisis in the Ukrainian economy, which is the second largest of our trading partners; [when we see] the slowdown of Chinese economy, this is not a good external environment for [Belarus'] development.

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