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Austrian Companies Hit by Belarusian Crisis

Countries › Other Regions ♦ Published: May 27, 2011; 16:39 ♦ (Vindobona)

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RBI and Telekom Austria are evaluating the effects on their local subsidiaries. Exports to the country could drop by 30%.

Austrian Companies Hit by Belarusian Crisis / Picture: © Wikimedia Commons / Zscout370 [Public Domain]

Twenty years late the Belarusian economy is on the verge of collapse. This week the country’s national bank had to devalue the ruble by more than 50% to 6,914 rubles per euro. Alexander Lukashenko, president since 1994, has tried to maintain the soviet economic system. Only 30% of the country’s GDP comes from private companies.

Over the past years Austrian companies have made…