18 November 2017, Saturday, 2:20

How Belarusian Officials "Steal Sweets" From Someone Else's Pocket

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The so-called "stability" costs Belarus more than it is considered to be.

Many Belarusians understand that in recent years the country has been living on credit actively. One day, independent media report on a possible IMF loan, then on a new Chinese loan, then on a new Russian loan, which has to be taken to return the old one. Belarus’ debts have already become the object of jokes in the Internet, gazetaby.com reports.

However, in order to get a feel of the full scale of what is happening, it is enough to pay attention to some figures published by official statistics. According to these data, in 2017, the state debt of Belarus reached a historic high – having grown more than 20 times in absolute terms over the past five years!

In particular, in October, the external public debt of Belarus exceeded the level of 16 billion dollars – having increased by 2.7 billion since the beginning of the year.

Thus, Belarus has reached a dangerous line, when the amount of debt is more than 30% of GDP. But, as it has turned out, the thick end of the stick comes next. According to the international experts’ forecast, if the Belarusian officials do not start urgent reforms, the country's total national debt will reach a critical size of 59% of GDP. And it will happen in two years.

This situation reminds the situation, when someone, absolutely impudent, steals sweets from someone else's pockets, depriving money and prospects not only themselves, but a lot of future generations.