Lukashenko admits currency devaluation, promises to overcome signs of crisis
ASTANA. May 25 (Interfax) - Belarusian President Alexander Lukashenko has admitted that the national currency was devaluated in his country and expressed confidence that Belarus will cope with the manifestations of crisis in its economy.
"Probably we went too far with the issue [of money], but the main reason still was the leap in fuel prices," he said in Astana on Wednesday speaking at Gumilyov University.
"The exchange rate that has been established will remain such. Yesterday it was set at about 5,000 [Belarusian rubles] for one U.S. dollar. Let there be devaluation. It's alright. The main thing is to properly deal with the consequences," he said.
"The second wave of the crisis has swept over us," primarily due to the growth of fuel prices, he said.
"Yes, we are exporting more today, but we are still short of foreign currency. The question is how to work our way out," Lukashenko said.
He dismissed as unjustified the claims that Belarus will launch large-scale privatization to resolve its economic problems.
"In our opinion, privatization must not be sweeping," he said.
During the previous international crisis, "the powerful public sector helped us to remain afloat," Lukashenko said.
Besides, the country's leadership "is not opposed to private property. But we are for private property that a person creates himself," he said.
The leadership of Belarus does not accept "private property based on privatization and received for peanuts," he said.