MINSK, 9 September (BelTA) – Belarusian President Aleksandr Lukashenko urged banks to focus on providing financial support for the economy as he spoke at a meeting with the management of Belarus’ National Bank and heads of commercial banks on 9 September, BelTA has learned.
One of the tasks the head of state set for the National Bank and the entire banking system is financial support for the economy. The Belarusian president noted that lending has always been vital for business operations, particularly when it needs to modernize, scale up the business, or create new production facilities.
“The demand for credit resources in our country is traditionally high. Since the beginning of the current five-year period, the annual lending by banks to economic entities and the population has doubled,” Aleksandr Lukashenko emphasized. “At the same time, there has been a decline in the share of bank loans (borrowings) used for fixed capital investment, falling from 27% in 2014 to 12% in 2024.”
According to him, a significant share of these funds is directed toward credit support for the real economy. Over the seven months of this year, legal entities received Br103 billion in credit funds from banks.
“However, the task of financing the economy has not yet been fully accomplished. And it is not the quantity but the quality of financial investments that matters. Every invested ruble must yield maximum returns. This is a guiding principle for absolutely everyone,” the head of state said.
The president emphasized that the banking system must actively contribute to this by ensuring the efficient and rational allocation of resources in the economy. “Financing effective investment projects with high export potential, aimed at import substitution or regional development, must be an unconditional priority for our banking sector. Sometimes it is necessary to help the client, to advise them on where costs can be reduced,” he added.
“Of course, continuous funding of investment projects requires resources. So, where should these resources come from? The clear priority must be to channel ruble savings into the banking sector,” the Belarusian leader stated.
“The demand for credit resources in our country is traditionally high. Since the beginning of the current five-year period, the annual lending by banks to economic entities and the population has doubled,” Aleksandr Lukashenko emphasized. “At the same time, there has been a decline in the share of bank loans (borrowings) used for fixed capital investment, falling from 27% in 2014 to 12% in 2024.”
According to him, a significant share of these funds is directed toward credit support for the real economy. Over the seven months of this year, legal entities received Br103 billion in credit funds from banks.
“However, the task of financing the economy has not yet been fully accomplished. And it is not the quantity but the quality of financial investments that matters. Every invested ruble must yield maximum returns. This is a guiding principle for absolutely everyone,” the head of state said.
The president emphasized that the banking system must actively contribute to this by ensuring the efficient and rational allocation of resources in the economy. “Financing effective investment projects with high export potential, aimed at import substitution or regional development, must be an unconditional priority for our banking sector. Sometimes it is necessary to help the client, to advise them on where costs can be reduced,” he added.
“Of course, continuous funding of investment projects requires resources. So, where should these resources come from? The clear priority must be to channel ruble savings into the banking sector,” the Belarusian leader stated.
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