MINSK, 14 June (BelTA) – The state debt of Belarus is manageable and serviceable, BelTA learned from Belarusian First Deputy Finance Minister Maxim Yermolovich during an expanded-participation session of the Budget and Finance Commission of the House of Representatives of the National Assembly of Belarus on 14 June.
According to the source, Belarus' state debt stood at Br39.2 billion at the beginning of the year. The figure represented 41.7% of the GDP while the threshold is set at 50%. Maxim Yermolovich believes this debt is manageable and serviceable but its further growth may entail additional risks. The official underlined that the Finance Ministry and the central government of the country are doing their best to restrict the growth of the state debt and reduce the debt burden on the state budget.
The first deputy finance minister said that in 2016 Belarus made full and timely payments to service and pay off the state debt, with over Br7 billion spent on it. The bulk of the money was spent on servicing the state debt, with $3.2 billion spent on paying off the state debt.
“Apart from taking money from the Eurasian Fund for Stabilization and Development we raised money on the home financial market in order to pay off these debts,” explained Maxim Yermolovich.
