Opinions & Interviews

Belarusian banks encouraged to finance real economy

MINSK, 14 January (BelTA) – The banking system needs to finance the real economy sector maintaining a healthy balance,  Belarus President Aleksandr Lukashenko said as he heard out reports by Chairman of the Board of the National Bank Pavel Kallaur and Presidential Aide Valery Belsky on 15 January, BelTA has learned.

“Let's be frank, 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,” Aleksandr Lukashenko said. “Without the economy, there will be no finances. It is clear that there must be a reasonable balance. It is clear that we need to avoid irrecoverable loans. They are long gone and will not be back. Everyone should understand this perfectly. But, nevertheless, we need to find the possibility of lending to the real sector of the economy in the first place.”

Speaking about the state of affairs in the banking sector, Aleksandr Lukashenko thanked Pavel Kallaur for keeping things under control during the difficult time. "We can even describe this period as very challenging. In other countries, the banking system was simply collapsing. We have not only kept the situation under control but created an environment that keeps the economy going," the Belarusian leader said.

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