MINSK, 10 March (BelTA) – Belarus’ financial system has considerable reserves and is ready to provide even greater support to exporters, Chairman of the Board of the National Bank Roman Golovchenko told the media following his report to the head of state, BelTA has learned.
“Belarus’ financial system is feeling quite well. We have accumulated considerable reserves, and the banking system has sufficient assets. Therefore, in principle, we are ready to provide an even greater financial shoulder for exporters than we currently do,” Roman Golovchenko said.
The head of the National Bank emphasized that the focus is on supporting not only the export of goods, but also various promising projects. As an example, he cited the development of assembly facilities for Belarusian products and logistics infrastructure for their promotion. Another area is production transfer, which is driven by the desire of an increasing number of countries to develop their own competencies.
“The president constantly speaks about this in the context of our work, particularly in the African region. No one is ready to buy finished products. Everyone wants a certain degree of localization,” Roman Golovchenko stated. “But placing the full financial burden entirely on a foreign partner is an overly optimistic approach. If our exporters see that a project will generate profit over a certain period of time, financial resources will be provided for this."
Speaking about the report to the head of state, Roman Golovchenko noted that they began with information on the situation in the currency and financial markets, on the foreign economic track, and on the state of reserves. But overall, the range of topics was quite broad.
“This is a kind of progress report after a year of work at the helm of the National Bank. Of course, the topics raised coincide with the themes on the agenda of the head of state's meeting with the Council of Ministers. Certain messages were also voiced regarding the interaction between the National Bank, the government, and other authorities in addressing the tasks facing the country,” the head of the National Bank said.
According to him, the subject matter of the conversation went beyond the issues initially planned. Among other things, discussions touched upon new projects and areas in foreign economic activity. “Given the dynamically changing situation in the world, we need to establish ourselves more actively in foreign markets and implement international cooperation projects. The National Bank and the banking system have the relevant competencies to facilitate such projects. Therefore, certain tasks were also set to ensure that the banking system focuses more actively on some areas. We have received absolutely clear instructions from the head of state,” Roman Golovchenko stated.
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