Updated at 18:18,16-07-2018

Lukashenko Won't Write off Loans to Agricultural Enterprises but Reduce Subsidies


President of Belarus Alexander Lukashenko said during a working trip to Brest voblast on December 2 promised to reduce the state subsidy for agriculture from the current 18% to 10% of GDP, as well as no longer to write off loans for agricultural enterprises.

"I want you to obligatorily get in all the loans you've borrowed to the banks and the budget. You will give the money back without fail; don't expect your credits write-off. It's time not to sit and wait for someone else, like the budget, to grant you a credit", BelTA cites the President.

Alexander Lukashenko said that the Customs Union and Common Economic Space of Belarus pledged to cut back state support for agriculture.

The President demanded higher returns from the farmers. He is convinced that today the state "shall have the right to exert influence on agriculture", as long as the planned growth of production in this area is not satisfied. Alexander Lukashenko demanded the annual increase of 5.5-6%.

The President also drew attention to the need to be more actively engaged in the reconstruction of dairy farms, as well as construction of new farms not to stretch this process out for another five years.