Yuri Tarakanov. Photo courtesy of the Economy Ministry
MINSK, 9 September (BelTA) – The expansion of powers available to municipal authorities has significantly improved the quality of the measures being taken to financially rehabilitate enterprises. Director of the Rehabilitation and Bankruptcy Department of the Belarusian Economy Ministry Yuri Tarakanov made the statement as he commented on results of an analysis into the risk of bankruptcies of state-run organizations on the basis of H1 2024 data, BelTA has learned.
As of 1 July the share of organizations in need to insolvency prevention measures dropped by 1.5% in comparison with the time when the new law on regulating the insolvency came into force on 1 October 2023.
The largest decrease in the share of such organizations was reported among municipal enterprises in Mogilev Oblast (7.8% down) and Brest Oblast (3.6% down) and among organizations subordinate to the central government in Grodno Oblast (4% down) and Vitebsk Oblast (2.3% down).
The development of rehabilitation measures, timely oversight over their implementation as well as assistance on the part of government agencies have resulted in a decrease in the number of organizations in need of such measures by 9.4% in civil engineering, by 7.9% in manufacturing sector, by 6.2% in agriculture, and by 4% in trade, the director of the Rehabilitation and Bankruptcy Department of the Belarusian Economy Ministry added.
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