Debts of Belarusian Industry Hit Record High

Since the beginning of 2021, the increase in liabilities has reached 18.7%.

The financial results of the 1st quarter of 2021 have become known. For the leaders of the domestic industry, these results were not very pleasant, the website banki24.by writes.

By April 1, the total debts of the industry amounted to BYN 91.6 billion. Since the beginning of 2021, the increase in liabilities has reached 18.7%.

Among the manufacturing industries in terms of accumulated debts, the leaders were the food industry (11.7 billion BYN), wood processing and pulp (10.9 billion BYN), mechanical engineering (7.7 billion BYN), manufacturers of non-metallic products (7.5 billion BYN).

The total debts of the energy sector (19.8 billion BYN) stand apart, which have grown 3.2 times since the beginning of the year. The increase in liabilities is due to the change in the core activity of several flagship enterprises in Belarus.

The overdue part of the industry's total debts reached BYN 4.630 billion by April 1. The food industry (BYN 1.222 billion), mechanical engineering (BYN 598.5 million), manufacturers of non-metallic products (BYN 590.4 million), metallurgists (BYN 522.3 million) accumulated most of these debts.

Total debts consist of loan commitments and creditors. As of April 1, loans and borrowings from industry reached BYN 66 billion, creditor loans - BYN 25.6 billion. Lending has grown since the beginning of the year by 6.2%, loans and borrowings - by 24.4%.

The size of the accounts payable in the industry has become a record for the entire period of measurements according to the current method. Moreover, a noticeable jump in liabilities occurred in March 2021.

As of April 1, the largest creditors in the industry were led by the food industry (4.242 billion BYN), manufacturers of non-metallic products (3.508 billion BYN), oil refining (2.606 billion BYN), mechanical engineering (2.403 billion BYN), energy (2.239 billion BYN).

As of the reporting date, the delay in the industry credits amounted to BYN 3.117 billion. The food industry (BYN 742 million), metallurgists (BYN 441.3 million), mechanical engineering (BYN 357.4 million), transport manufacturers (BYN 331.4 million) took the first places in terms of the overdue payments of accounts payable.

According to the amount of accumulated loans and borrowings, the leaders were energy (17.6 billion BYN), wood processing and pulp (9.652 billion BYN), food processing (7.436 billion BYN), mechanical engineering (5.300 billion BYN).

"Garbage" loans and borrowings as of April 1 amounted to BYN 1.514 billion. They were concentrated in the food industry (480.1 million BYN), the production of non-metallic products (290.7 million BYN), mechanical engineering (241.2 million BYN), wood processing and pulp (154.9 million BYN).