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Prime minister says that lending to real sector of economy should increase

Banks should increase lending to the real sector of the economy to restore effective demand, including demand for equipment, Prime Minister Mikhail Myasnikovich said on Tuesday, speaking during a government conference on the performance of the industrial sector and Belarusian exporters.

The government makes a serious effort to find new export destinations, Mr. Myasnikovich said.

Belarusian companies supplying goods to Russia will change their export strategy to reflect the most recent developments in the Russian market, including changes resulting from Russia’s accession to the World Trade Organization, he said.

Mr. Myasnikovich pointed out that it was necessary to improve the system of sales under leasing contracts and use deferred payment plans and other marketing tools.

A draft presidential directive that would put the National Bank of Belarus in charge of leasing activities will soon be submitted to the head of state, he said.

In addition, there are plans to step up the work of leasing companies, including AAT Pramahraleasing, Mr. Myasnikovich said.

Other companies in which the government holds at least 50 percent should be allowed into the export insurance market, which is currently dominated by Belarus’ state-owned Export-Import Insurance Company (Beleximharant), he said, adding that one more such company might be established under the aegis of the Development Bank of Belarus.

Mr. Myasnikovich said that Sberbank, Bank VTB and Vnesheconombank were expressing readiness to provide low-interest loans for the purchase of Belarusian equipment. //BelaPAN