Business news

Alexander Lukashenko noted that recently he has not interfered with the issues regarding the development of the banking system, foreign currency market, and monetary sector. At the same time, he stressed that the main thing is not to bring the economy to a standstill. “All systems (in the banking sector. – BelTA’s note) should be normal, transparent, and understandable for our partners, including market participants in the West. I do not deny it. But the economy should work,” the head of state emphasized.

“I get information that the situation is, mildly speaking, not like this in a number of fields. Therefore, the economic development is the main priority for us,” Alexander Lukashenko added.

Pavel Kallaur told reporters that in spite of the existing challenges and internal problems, the economy and banking sector should interact with each other in a way to ensure economic progress and a balanced macroeconomic situation. “In these conditions the banking system should create a corresponding resource base to support the real production sector of the economy. And the banking sector copes with this task,” he told BelTA.

“Banks cooperate with enterprises on a daily basis and thus ensure the financing of the economy and raise resources on foreign markets,” Pavel Kallaur added.

Speaking about the problems which emerged under the influence of external shocks, he said that credit risks materialize in the form of bad assets. “There is a task to prevent the growth of these bad assets to the level which may jeopardize the stability of the banking system. These issues were on the agenda as well,” the chairman of the board of the National Bank said.