News & Events in Belarus

Lukashenko: Any financial activity should serve interests of economy

MINSK, 28 March (BelTA) – The economy is a top priority, thus any financial activity should serve the interests of the economy, Belarusian President Aleksandr Lukashenko said as he was hearing a report on the performance of the banking system and measures to bolster foreign trade, BelTA has learned.

“Key figures in charge of Belarus’ economy and finance are in attendance. I think it would be a great idea to discuss the main problems, first of all, problems in banking and finance. I want to make one thing abundantly clear: the economy is a top priority. Any financial activity should serve the interests of the economy. Whatever it would cost us. This is the main thing. Otherwise, why would we need such a financial system,” the Belarusian leader emphasized.

The head of state announced plans to toughen control over the work of the National Bank. It was one of the reasons for the recent personnel decisions. At the same time, tougher control does not mean interference with the work of the National Bank. Economic performance in the past year suggests that the economy is holding out pretty well against the sanctions. In other words, the government and the National Bank are fulfilling their tasks. Aleksandr Lukashenko said he is ready to discuss problems in an open and candid way.

He also raised the issue of providing assistance to economic entities in making settlements with foreign partners. “Sanctions are sanctions. It seems that we are pulling off, everything is fine. But we feel pressure, first of all from the Americans; Russia admitted this too. Pressure has to do with settlements. And I have repeatedly drawn your attention and the attention of the government to the fact that we need to help economic entities the way we can. We should do this calmly, without making much fuss about it,” the president said.

Pricing was another topic raised by Aleksandr Lukashenko. Belarus has no plans to drop control in this area as it wants to prevent unreasonable price increases.

Among the participants of the meeting were Chairman of the Board of the National Bank Pavel Kallaur, First Deputy Prime Minister Nikolai Snopkov, Deputy Head of the Belarus President Administration Aleksandr Yegorov, Finance Minister Yuri Seliverstov, as well as Deputy Minister of Foreign Affairs Igor Nazaruk.

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