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All-Time High Growth in Debts, Belstat Informs

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All-Time High Growth in Debts, Belstat Informs

Business loan arrears of enterprises have increased by 87.9% since the beginning of this year.

As of October1, 2016 business loan arrears in Belarus (excluding micro-organizations and small independent organizations) amounted to Br2 billion and 782.2 million. In relation to this January 1, it increased by 87.9% in September - by 5.3%, Belstat informs.

In general, as of October 1, 2016 loan arrears amounted to Br659 billion and 270.2 million - 4.4% more than in January 1, and 0.6% less compared to September 1.

Since the beginning of the year the overdue accounts payable have increased by 19.5% and equaled to Br6 billion and 931.1 million; since September 1 they have decreased by 0.04%.

In general, as of October 1, 2016 overdue credit debts amounted to Br38 billion and 333.3 million or 8.6% more than as of January 1 0.4% less compared to September 1.

External overdue accounts payable has increased by 2.6% since the beginning of the year and as of October 1 it reached Br1 billion and 220.5 million. In September it decreased by 3.7%. In general, foreign liabilities have decreased by 2.7% (to Br8 billion and 696.8 million) since the beginning of the year, in September it decreased by 5.9%.

Since the beginning of the year overdue accounts receivable has increased by 20.3% and amounted to Br7 billion and 270.2 million, since June 1 it has decreased by 0.6%.

As of October 1 accounts receivable made up Br29 billion and 723.3 million or 10.2% more than in January 1 or 0.6% more compared to September 1.

External overdue accounts receivables has decreased by 2.5% since the beginning of this year and amounted to Br1 billion and 19 million. Since September 1 it has decreased by 5%. In general, foreign receivables have decreased by 2.1% (to Br6 billion and 807.2 million), in September it decreased by 4.6%.

The real sector of the economy should be the source of resolving issues with non-performing debts which are being accumulated by banks. Belarusian economists express their point of view when commenting on the situation in the banking system.

"The reason for new bad debts is not in banks and loans value, but in the real sector of the economy, enterprises which have turned to be uncompetitive on domestic and foreign markets," expert of BEROC Dzmitry Kruk earlier stated.

"The debt restructuring needs to be determined by restructuring measures and increase of loan debtors’ effectiveness. It will make the ground for the rise of financial status of many enterprises," Director of the IPM Research Center Aliaksandr Chubryk says.

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