Every Belarusian family already owes $16,000

The debt of Belarus now exceeds $40 billion.

Over the year 2014 foreign investors have “put” $15 billion 100 million in the Belarusian economy. Such a sum has been named by the Belarusian National Statistics Committee of Belarus. The state statisticians say that 82.1% of this sum are so-called “debt instruments”, Radio Svaboda informs.

“It means that more than four-fifth of the received money are usual loans, – explains the head of Stratsehiya analytical centre Leanid Zaika. – “Now we have about $28 billion of loans by economic entities. Enterprises had taken out loans. So in reality those are not foreign investments, but usual debts.

Besides, the government borrows money as well. And in total we all have a debt of $40 billion already. That is, $16,000 per every Belarusian family. When people are told about that, they get angry and start shouting: I do not owe any debts to anyone. And I say: no, Ivan, you and your family have a debt of $16,000. People simply do not understand that enterprises take loans for the sake of trade, for stream of commerce.

It is called “investment” in our country. But in reality it is nothing else but a bad financial situation.”

According to the official statistics, “the key investors of the country’s economic entities were economic entities of Russia (41.6% of all investments received by the country), the United Kingdom (18.6%), the Netherlands (13%), Cyprus (6.2%)…”

“Most likely, these are trade credits issued last year, – Zaika says. – For example, the Union of Entrepreneurs took out a loan from Cyprus and is building a new market. This money is like a credit. And we define them as investments. In fact, this is money borrowed by local economic entities.”