Updated at 17:11,20-07-2018

Belarus to have another government soon, former head of NBB says


Stanislaw Bahdankevich, former head of the National Bank of Belarus (NBB), forecasts the soon resignation of Prime Minister Mikhail Myasnikovich's government. According to the expert, the disastrous results of 2012 in the economy of Belarus indicate this.

"The most important economic indicators are not met", Mr. Bahdankevich told ucpb.org. "It should be that if gas prices get lower, the energy intensity is to get lower too. And we have its rise by 7 percent for the first year half of 2012."

According to the expert, accounts payable and receivable rise together with the rise in the insolvency of economic units: goods are shipped, but remain unpaid.

"And they are unpaid, because banks have problems with liquidity, they can't finance businesses in volumes and on conditions they did before," Mr. Bahdankevich said. "In principle, it is right policy - enterprises should earn money on their own while producing and selling goods. But the money for producing the goods are kept in stocks, or they are frozen in the form of the shipped but unpaid goods."

"There are more and more problems, but my personal assessment is that the problems are not disastrous if conditions of an adequate management are met," he added.

Mr. Myasnikovich was appointed as Prime Minister on December 28, 2012. Before the appointment he headed the National Academy of Science.