Lukashenko orders Belarus’ Cbank to seek credit opportunities for real sector
<p> MINSK, Jan 15 - PrimePress. Belarusian president Alexander Lukashenko has instructed the National Bank of Belarus (NBB) to seek opportunities for credit support to the real economy. Lukashenko voiced the instruction on January 15 at a meeting with NBB Chairman Pavel Kallaur and presidential aide Valery Belsky, the president’s press service reported. </p> <p> </p> <p> “The economy must grow. When there is economy, there is a banking system, up and running. If there is no economy, there will be no banking system. And people won't have any money. This is why the economy is above all. It is clear that the money out of thin air has been long gone and gone for good… But, nevertheless, we need to find the possibility of lending to the real sector in the first place,” said Lukashenko. </p> <p> </p> <p> In his words, the financial situation in Belarus more or less keeps the economy operational. </p> <p> </p> <p> “The inflation rate was slightly higher than what we had planned. I would like to hear an explanation in this regard. I read and hear banalities. But I would like to dig deeper into this problem. Price stability is a number one matter,” said Lukashenko. </p> <p> </p> <p> As previously reported, Belarusian banks’ loan portfolio stood at Br63.187 billion ($24.57 billion at the official exchange rate of the central bank) as of December 1, 2020, up 15.5% since early 2020. </p> <p> </p> <p> The credit debt of different economic sectors to banks went up by 20.1% in Jan-Nov 2020 to Br58.329 billion ($22.68bn) as of Dec 1, 2020. </p> <p> </p> <p> Belarus’ year-on-year inflation growth exceeded the permitted maximum level stipulated in the forecast and accelerated to 7.4% in December 2020.The official inflation forecast for 2020 was no more than 5%, but then the National Bank of Belarus admitted it could possibly rise to 6%. Belarusian Prime Minister Roman Golovchenko said in December that he would tolerate 10% inflation by the end of 2020. End </p>
2021-01-16
Primepress
Lukashenko orders Belarus’ Cbank to seek credit opportunities for real sector
MINSK, Jan 15 - PrimePress. Belarusian president Alexander Lukashenko has instructed the National Bank of Belarus (NBB) to seek opportunities for credit support to the real economy. Lukashenko voiced the instruction on January 15 at a meeting with NBB Chairman Pavel Kallaur and presidential aide Valery Belsky, the president’s press service reported.
“The economy must grow. When there is economy, there is a banking system, up and running. If there is no economy, there will be no banking system. And people won't have any money. This is why the economy is above all. It is clear that the money out of thin air has been long gone and gone for good… But, nevertheless, we need to find the possibility of lending to the real sector in the first place,” said Lukashenko.
In his words, the financial situation in Belarus more or less keeps the economy operational.
“The inflation rate was slightly higher than what we had planned. I would like to hear an explanation in this regard. I read and hear banalities. But I would like to dig deeper into this problem. Price stability is a number one matter,” said Lukashenko.
As previously reported, Belarusian banks’ loan portfolio stood at Br63.187 billion ($24.57 billion at the official exchange rate of the central bank) as of December 1, 2020, up 15.5% since early 2020.
The credit debt of different economic sectors to banks went up by 20.1% in Jan-Nov 2020 to Br58.329 billion ($22.68bn) as of Dec 1, 2020.
Belarus’ year-on-year inflation growth exceeded the permitted maximum level stipulated in the forecast and accelerated to 7.4% in December 2020.The official inflation forecast for 2020 was no more than 5%, but then the National Bank of Belarus admitted it could possibly rise to 6%. Belarusian Prime Minister Roman Golovchenko said in December that he would tolerate 10% inflation by the end of 2020. End