Belarus provides Br2bn in systematic support to real sector in 2020 – Golovchenko
<p> MINSK, Feb 23, PrimePress. Belarus systemically supported enterprises of the real sector in 2020, which ensured stable operation of the economy, Prime Minister of Belarus Roman Golovchenko said at the session of the Council of Ministers of Belarus on February 23, 2021, the press office of the government reports. </p> <p> </p> <p> “Stable economic performance was ensured in 2020 despite the unprecedented pressure of both external and internal factors. The head of state backed government’s proposals, and systemic support was provided in the second half of the year to enterprises of the real sector of the economy, businesses and individual employees of commercial and public sector entities to the tine of over Br2 billion ($769 million at the exchange rate of the National Bank of Belarus). This is unprecedented support given the budget deficit and national debt repayment. We managed to maintain uninterrupted functioning of enterprises, to fully restore added value in the manufacturing industry and, most importantly, to preserve jobs,” said Golovchenko. </p> <p> </p> <p> As previously reported, in 2020, the government raised the directed lending ceiling from Br740 million ($284 million) to Br2.4 billion ($923 million). Up to a half of this amount was obtained in the fourth quarter of the year. This accelerated annual inflation in late 2020 to 7.4% against 4.7% in 2019. </p> <p> </p> <p> According to Golovchenko, the government has an action plan to reduce enterprises’ debts. He did not give details, though. “Organizations’ debts approached Br160 billion ($61.5 billion) in 2020, up 19% since the beginning of the year. The government has a consistent action plan to handle with. I call on the ministers and governors to put forth efforts to this end quickly and efficiently,” said Golovchenko. </p> <p> </p> <p> Debts of Belarusian enterprises have reached the all-time high of $61.5 billion in equivalent, which exceeds Belarus’ 2020 GDP ($60.4 billion in equivalent at the average annual exchange rate of the Belarusian ruble). </p> <p> </p> <p> The prime minister said that Belarus ensured public sector incomes growth in 2020, in particular, the incomes of health professionals and teachers. The average salary in the public sector was at 80.4% of the national average. </p> <p> </p> <p> “When looking into the matters at hand, we must not lose sight of the main directions stipulated by the new five-year plan, i.e. stimulation of consumption, sound import substitution, investments and export strategies,” said Golovchenko. End (Br2.5963/$1) </p>
2021-02-24
Primepress
Belarus provides Br2bn in systematic support to real sector in 2020 – Golovchenko
MINSK, Feb 23, PrimePress. Belarus systemically supported enterprises of the real sector in 2020, which ensured stable operation of the economy, Prime Minister of Belarus Roman Golovchenko said at the session of the Council of Ministers of Belarus on February 23, 2021, the press office of the government reports.
“Stable economic performance was ensured in 2020 despite the unprecedented pressure of both external and internal factors. The head of state backed government’s proposals, and systemic support was provided in the second half of the year to enterprises of the real sector of the economy, businesses and individual employees of commercial and public sector entities to the tine of over Br2 billion ($769 million at the exchange rate of the National Bank of Belarus). This is unprecedented support given the budget deficit and national debt repayment. We managed to maintain uninterrupted functioning of enterprises, to fully restore added value in the manufacturing industry and, most importantly, to preserve jobs,” said Golovchenko.
As previously reported, in 2020, the government raised the directed lending ceiling from Br740 million ($284 million) to Br2.4 billion ($923 million). Up to a half of this amount was obtained in the fourth quarter of the year. This accelerated annual inflation in late 2020 to 7.4% against 4.7% in 2019.
According to Golovchenko, the government has an action plan to reduce enterprises’ debts. He did not give details, though. “Organizations’ debts approached Br160 billion ($61.5 billion) in 2020, up 19% since the beginning of the year. The government has a consistent action plan to handle with. I call on the ministers and governors to put forth efforts to this end quickly and efficiently,” said Golovchenko.
Debts of Belarusian enterprises have reached the all-time high of $61.5 billion in equivalent, which exceeds Belarus’ 2020 GDP ($60.4 billion in equivalent at the average annual exchange rate of the Belarusian ruble).
The prime minister said that Belarus ensured public sector incomes growth in 2020, in particular, the incomes of health professionals and teachers. The average salary in the public sector was at 80.4% of the national average.
“When looking into the matters at hand, we must not lose sight of the main directions stipulated by the new five-year plan, i.e. stimulation of consumption, sound import substitution, investments and export strategies,” said Golovchenko. End (Br2.5963/$1)