$4000 Of State Debt Fall On Each Working Belarusian

The officials, who were signing agreements on loans, should take responsibility for everything.

Each Belarusian owes $1400 to foreign creditors. This figure was announced at a round table "Economy without debt. How to reform the industry without external financial borrowings" in Minsk on November 2, BelaPAN reports.

Taking into account not only the external state debt, but also the internal one, this figure will be $ 1900 per Belarusian. If to take into account only working people, the figure will rise to more than 8,000 Belarusian rubles, or more than $ 4,000. This was said by the director of the School of Young Managers in Public Administration (Sympa) Natallia Ryabava.

According to her, the domestic debt increase due to the issue of government bonds. Individuals buy only 10% of the bonds, the rest of them are purchased by legal entities, mostly commercial banks. Ryabava added that the authorities force to buy these bonds "by known methods".

The director of Agency of Business Relations Valyantsin Lopan objected to her. In his opinion, it's not correct to divide the amount of state debt by the number of citizens and to "impose a psychological responsibility for repaying the debt on them".

Expert has called such approach "horror stories". He added that none of Belarusians – from baby to pensioner – has such a debt and the officials, who were signing agreements on loans, should take responsibility for everything.

State debt of Belarus amounted to 36 billion Belarusian rubles as of October 1, 2016. It has increased by 3.1 billion Belarusian rubles, or 9.6% since the beginning of the year.