Aleksandr Yegorov
MINSK, 10 September (BelTA) – Comprehensive decisions are needed to improve performance of struggling enterprises, First Deputy Chairman of the Board of the National Bank of Belarus Aleksandr Yegorov told journalists following Aleksandr Lukashenko’s meeting with the top management of the National Bank and other banks, BelTA reports.
Addressing the issue of underperforming enterprises, Aleksandr Yegorov noted that while their number in Belarus is small, they require comprehensive solutions. “First, debt restructuring is essential to alleviate their immediate financial burden. Second, providing working capital is critical to enable their development. Third, and most importantly, a clear strategy for improving operational efficiency must be implemented. Endless debt restructuring is futile if it doesn’t lead to a more efficient enterprise,” emphasized the first deputy chairman of the Board of the National Bank.
He cautioned, however, that restructuring is secondary to a fundamental shift in strategy. “A business plan built on perpetual restructuring – simply pushing debts forward year after year without a parallel focus on efficiency – is a guaranteed dead end,” Aleksandr Yegorov stated.
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