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Every Belarusian owes $4,289

121
Every Belarusian owes $4,289

Belarus's gross external debt has reached 55.5% of GDP.

It is said in the statistical report of the National Bank based on the IMF's methodological recommendations, Interfax writes.

According to the report, the gross external debt of Belarus in all sectors of economy on July 1, 2014, was $40,609.1mn. It grew $988mn, or 2.5% in the first half of the year. The report notes that the gross external debt on July 1 was 55.5% of GDP, which is the level of the beginning of the year. The ratio between the gross external debt (39,269.1mn) and GDP was 54.1% in the first quarter of the year.

According to the data of the National Bank, the gross external debt was $4,288.6 per capita on July 1, 2014.

In the first half of the year, Belarus spent $5,458.7mn, or 15.8% of GDP, or 24.8% of export as debt servicing, including $4,740.4mn as principal payments and $718.3mn as interest payments.

The external debt of the general government was $13,936.3mn on July 1 (a decrease of 6.9%). The debt of deposit-taking corporations increased by 53.7% and reached $3,768.4mn in January-June. The debt of other sectors of economy declined 5.7% in the first half of the year to $4,556.1mn as of July 1.

The country spent 1,766.6mn on servicing the external debt of the general government in the first half of the year, including $1,507.3mn of principal debt service and $259.3mn of interest service.

Belarus's gross external debt rose 15.9% in 2013 and reached $39,124.3mn on January 1, 2014. In 2013, 6,622.9mn, or 9.3% of GDP, or 15.1% of export of goods and services was spent on external debt servicing, including $5,319.9mn of principal debt service and $1,303mn of interest service.

The gross external debt of Belarus is the outstanding amount of actual current, and not contingent, liabilities that require payments of principal and/or interest by the debtor at some point(s) in the future and that are owed to non-residents by residents of any economy. It covers financial liabilities of all residents of the Republic of Belarus to non-residents which are divided into four basic sectors of the economy: general government, monetary authorities, banks (deposit-taking organisations, except for the central bank), as well as others sectors (other legal and natural persons).

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