Belneftekhim hit by crisis

• 28.10.2008, 15:25

The global financial crisis will affect the Belarusian economy in view of its open character, minister of economy of Belarus Mikalai Zaichanka said at a session of the Council of Ministers.

“We have a common opinion: global financial crisis will affect economies of every country. It will certainly have an impact on the economy of Belarus that depends on the situation at foreign markets due to its open character,” Zaichanka said.

The minister of economy also said that Belneftekhim company stated sudden difficulties with selling its main products.

“Belneftekhim informs that selling of industrial threads and cord materials has complicated. Importers of potash fertilisers from Europe, Southeast Asia and Brazil refused from planned volume of purchases,” Zaichanka said. He explained that decrease in export potential of Belneftekhim was caused by loss of importers’ financial resources due to the crisis.

“It may influence stock reserve in the nearest time,” Zaichanka said.

First vice premier Uladzimir Syamashka stressed, “foreign economic conditions have radically changed for the last two months due to the growing economic crisis.”