Belarusian enterprises are likely to improve financial health
As of October 1st, 2017, the compulsory sale of foreign currency earnings requirement would be reduced from 20% to 10%. Previously, the requirement was reduced from 30% to 20% in August 2016. The requirement has been reduced due to the need to meet the EFSR condition under the USD 2 billion loan agreement. The reduction is unlikely to have a significant impact on the foreign exchange market, albeit currency sales by legal entities are likely to decrease, net sales of currency on the domestic market are likely to persist. Should the Belarusian rouble start devaluing, the reduced requirement would reduce exchange rate losses from the compulsory currency sales and would contribute to the growth in enterprises’ financial stability.
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Situation in Belarus