The Belarus government prints fiat money to cover expenses and takes high interest loans from commercial banks to cover the budget deficit, skillfully creating more inflation. We already have dozens of billions in debt, and it’s getting worse. [Only Ukraine, Russia and Romania have higher inflation levels in Europe](https://tradingeconomics.com/country-list/inflation-rate?continent=europe) (also Turkey, if you consider it part of Europe).
The dollar has weakened this much because most countries are ditching it as a reserve currency due to Trump’s moronic policies, coming to realize that it’s a privilege that Americans and their state currency no longer deserve. It’s better to hold real assets like gold in reserve. Now, let’s compare the Belarusian ruble not to USD, but to gold or silver, and you’ll see the true state of the Belarusian economy. The Belarusian ruble is weakening, just slightly slower than the dollar.
2 Comments
Anyone here feeling 17.8% richer?
The Belarus government prints fiat money to cover expenses and takes high interest loans from commercial banks to cover the budget deficit, skillfully creating more inflation. We already have dozens of billions in debt, and it’s getting worse. [Only Ukraine, Russia and Romania have higher inflation levels in Europe](https://tradingeconomics.com/country-list/inflation-rate?continent=europe) (also Turkey, if you consider it part of Europe).
The dollar has weakened this much because most countries are ditching it as a reserve currency due to Trump’s moronic policies, coming to realize that it’s a privilege that Americans and their state currency no longer deserve. It’s better to hold real assets like gold in reserve. Now, let’s compare the Belarusian ruble not to USD, but to gold or silver, and you’ll see the true state of the Belarusian economy. The Belarusian ruble is weakening, just slightly slower than the dollar.