Belarus To Introduce Significant Currency Changes
42- 31.01.2025, 17:08
- 51,914
The Lukashists are fighting the dollar.
The so-called Council of the Republic approved the bill "On Consumer Credit and Consumer Microloan" on January 30. One of the innovations that they want to introduce is to oblige them to set rental rates for real estate in Belarusian rubles, and not in foreign currency. Then the document will be signed by Aliakasandr Lukashenka. "Senator" Ksenia Pantsiukhova explained why they are going to introduce the innovation.
What they are going to change
The authorities want to stipulate in the Civil Code that rates in rental agreements can only be specified in Belarusian rubles. The exception is leasing. This is provided for by the bill "On consumer credit and consumer microloan", which was adopted by members of parliament in the second reading on January 10.
Recall that earlier in Belarus until the end of 2024, a temporary ban on linking rent to foreign currency was in effect.
If the rent of state real estate is tied mainly to the Belarusian ruble (the basic rental amount), then private real estate, as a rule, used to depend on the euro or dollar exchange rates. Against this background, officials have banned setting rates for renting commercial real estate in foreign currency. They have been tied to the Belarusian ruble. And we are talking about any property. From office premises and parking spaces to cars and construction equipment. The corresponding changes have been made to the Civil and Banking Codes.
Why do they want to introduce innovation?
"Senator" Ksenia Pantsiukhova explained why they intend to adopt the change.
"In Belarus, a ban on tying rental rates to currency has been in effect for two years. Only the ruble - period. Of course, participants in the rental market are interested in whether the ban will be extended. The answer to the question is already there: the ban is not just extended, but also indefinitely. In the Republic of Belarus, rental rates will no longer be tied to the dollar," she said.
The senator specified that she "fully shares this decision and the overall course to minimize dependence on American dollars and other foreign currencies." "The devaluation of rent is another step along this path. This will relieve landlords and tenants of costs and stabilize the situation in the rental market. I am confident that this course will be continued, and its final result will be the formation of a new economic environment and new conditions for doing business in Belarus," the senator said.
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