No worries; financial crisis does not affect Belarus
In the view of the commentator, Belarusians have nothing to do with the problems of stock markets – simply because there is no real stock market in Belarus.
“Why does it happen? There are no stock exchanges in Belarus. This question should actually be addressed to our government – not me. Personally, I don’t see a big problem that we do not have a full-fledged stock market. It is there, but it is just at the stage of birth. I think it is good, because all of us are not living through a panic now”.
The reason is simple: Belarus does not have big companies like banks in Europe or Russian petrochemical giants.
“We don’t have securities that could lose 15-17 percent of their value daily. We are now talking about the crisis of Russian big companies, Ukrainian steel plants and large Western banks and financial structures. We have nothing like that, so people should not be worried”.
Stock markets, Siarhei Zhbanau says, allows to make huge money on condition that economy is healthy.
“This is like two side of the coin. On the one hand, it is very good to have a national stock exchange when economy is on the rise. When economy is in crisis, it becomes disadvantageous to have a powerful stock exchange. In the first case, everyone is happy because stocks allow making huge money. During the crisis, people start losing a lot of money”.
It appears that Belarus has chosen its own way of economic development. There is no stock market in Belarus, so world’s financial turmoil does not affect this country. The only bad thing is that we can’t develop our economy with the help of a stock market like it is done in the other countries.
