A classic twenty two situation: Belarus is taking new loans to pay old debts off. Moreover, the authorities refuse to carry out economic reforms.
Taking into consideration the country’s external and internal debt and dividing it among the residents, one comes to the conclusion that every Belarusian citizen owes $1,900 and every working person – over $4,000, the participants of the round table ‘Economy Without Debt. How To Reform Industry Without External Financial Borrowings’ stressed.
As of October 1, Belarus’ state debt amounted to 36 bn Belarusian rubles. Compared to the beginning of the year, it increased BYN 3.1 bn (9.6%). On October 1, the country’s external public debt increased $ 977.8 mln (7.9%) and reached $13.4 bn.
In January-September 2016, Belarus borrowed $1.54 bn: $800 mln – from the Eurasian Fund for Stabilization and Development; $359.6 mln – from Russia’s government and banks; $287 mln – from Chinese banks; $95 mln – from the International Bank for Reconstruction and Development; $1.8 mln – the European Bank for Reconstruction and Development and the Nordic Investment Bank.
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