The financial conditions of many businesses in Belarus deteriorated in Q1, 2012, compared with the same period of 2011, stated the National Bank of Belarus.
The NBB said that many businesses had reported a year-on-year decline in output, sales, demand for their products and net profits, and an increase in inventories of unsold goods.
At the same time, the NBB said, in April "certain progress" was observed and most of the companies’ performance indicators were closer to last year’s levels.
In January through April, many businesses saw a drop in their working capital and an increase in outstanding payables and receivables amid tight borrowing conditions, according to the survey.
Businesses’ costs were much higher, while producer prices rose at a slower pace than in the first four months of 2011.
