President: "The executive authorities should not view the exchange rate problem through the prism of the election, but through the prism of the actual economic situation"

05/26/16 19:56

President: "The executive authorities should not view the exchange rate problem through the prism of the election, but through the prism of the actual economic situation"

President Yevgeny Shevchuk held an enlarged meeting of the Security Council and State Council of the PMR

Tiraspol, 26 May. /Novosti Pridnestrovya/. Today, the president held an enlarged meeting of the Security Council and State Council of the PMR which focused, among other things, on the risks and threats entailing the imbalance between monetary and currency supply, the virtual withdrawal of part of businesses to grey areas.

It was noted that this situation predetermines a reduction in tax payments as economic agents are unable to purchase the required amount of currency. The presence of an unofficial exchange rate alongside the official one also worries the president.

The president noted that he supports the maintenance of macroeconomic stability. Thus, Pridnestrovie has managed for four years to maintain the national currency's stable exchange rate, whereas other countries, as for example CIS states, have experienced devaluation. But, according to Yevgeny Shevchuk, further maintenance of the exchange rate must be substantiated.

The president specially emphasised that the authorities, unfortunately, cannot come to agreement on this situation. «We need a consolidated agreement, be it popular or not, which will resolve the problem without delaying its solution. To avoid insinuations, the heads of the executive authorities have to work out a consolidated solution and announce it within the framework of the common information policy to proceed to stabilising elements," noted Yevgeny Shevchuk.

The head of state argued it is imperative to depoliticise this issue, proceeding from the actual economic criteria and risks the country is facing. «The executive authorities should not view the exchange rate problem through the prism of the election, but through the prism of the actual economic situation," underscored the president.

As the president's press service reports, following the discussion the president instructed responsible officials to present proposals stabilising the domestic foreign exchange market.

 

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