Prime minister of Belarus unexpectedly took a vacation

For more than a week the governmental establishment and top officials of ministries and agencies remain in a relaxed state.

Prime Minister Syarhei Sidorski, whose subordinates recently never had a dull moment and who even introduced into practice Saturday video-conferences, has unexpectedly taken a vacation. The prime minister promised to return to work after October 24, “Zavtra tvojej strany” informs.

Strangely enough, the head of the government went to take rest right before the extended session with participation of Alyaksandr Lukashenka. In late October the government would have to answer for the results of its anti-crisis activities, and at the same time to offer results of the country development in 2010. For the government it is the most important event in this year. To take leave on the eve of that can either a person who is completely sure of his impeccability, or the one who has nothing to lose, governmental sources of “Zavtra tvojej strany” believe.

As for the success of the prime minister in crisis overcoming, there are more questions than answers in that. Two months in a row the Belarusian economy is in recession, though not long ago the population was assured about potential for the economical growth. The growth is promised again: 2-3% by the end of the year. However, the results reached by the economy of the country do not suggest what could contribute to that.

Besides, it is not clear where the prime minister is going to find 2.4 billion rubles by the end of the year, which are deficient for state programs. Most important enterprises which give foreign currency to the country are facing problems with export contracts and warehouses filled with goods. In the context of this tendency the possibility of fulfilling the basic social and economic prognosis for the year 2010, which the government is going to offer to the president at the abovementioned session, are plus 2-3% of the GDP. In order to fulfil these plans, it is necessary to increase sales of trucks by 25%, potash fertilizers by 15%, to attract 1.8 billion dollars of direct foreign investors, as well as credits of the International Monetary Fund, the World Bank, the European Union and China.

It is probable that the prime minister needed vacation in order to find answers to questions, to compare the aims and the real situation in the economy. And maybe it is simply a relaxation before the storm, which is inevitable anyway.

As we have informed, recently there was a leak to mass media with quotes from the letter of the National Bank chief Pyotr Prakapovich to Syarhei Sidorski. In the letter the head of the National bank offered to the government to level down standards of financing governmental programmes for state-run banks and delegate these functions to the state development agency. Giving the credit portfolio, created in the framework of financing governmental programmes, will allow the Belarusian banks to “clean” their balances that must partially improve the situation in liquidity.

The alternative to reforming the financing governmental programme us another recapitalization of state-run banks from budget resources.

Most problem credits in the bank system of the country are formed in the process of financing state programmes. Thus, in January-July 2009 state banks have increased the volume of crediting state programs by 1.4 times as compared to the period of 2008, up to 6.76 billion rubles.