17 September 2021, Friday, 23:01
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Debts of Belarusian Flagships Exceed Expected GDP

Debts of Belarusian Flagships Exceed Expected GDP

The enterprises of Minsk have the largest debts.

The authorities have updated information on the level of total debts of large and medium-sized companies in the country. Debt growth continues in 2021. Data on the state of settlements of large and medium-sized enterprises are usually released with a delay of one and a half months after the end of the reporting period, banki24.by writes.

Therefore, the most recent statistics in September are information as of August 1. By August 1, the total debts of the flagships of Belarus amounted to BYN 161.5 billion.

According to the forecast of the Ministry of Economy (Decree No. 4 of March 12), GDP for 2021 is expected to be 158.5 billion BYN. Thus, even now the level of debt exceeds the forecasted volume of the country's economy.

Since the beginning of the year, the total debt of flagships has grown by 2%. For reference: for the whole of 2020, the debts of enterprises increased by 19.3%, for 2016 and 2019 - by 7.4% each, for 2018 - by 10.7%, for 2017 - by 12.9 %.

In terms of money, the total debts of the flagships for 2020 increased by 25.6 billion BYN. Compare: for 2019, the increase amounted to BYN 9.2 billion, for 2018 - BYN 11.9 billion, for 2017 - BYN 12.8 billion, for 2016 - BYN 6.8 billion.

The growth in total debt is supported by the devaluation of the Belarusian ruble. The higher the rate of depreciation of the "bunny" against other currencies, the higher the rate of debt growth. This is due to the significant share of foreign currency borrowing of the Belarusian flagships.

In the territorial context, the largest debts as of August 1 were accumulated by the flagships of Minsk - 43.1 billion BYN. In the regions, the level of debts is as follows: Brest - BYN 10.2 billion, Vitsebsk - BYN 14.2 billion, Homel - BYN 24.3 billion, Hrodna - BYN 28.2 billion, Minsk - BYN 27.9 billion, Mahiliou - 13, 6 billion BYN.

Hrodna is the leader among the regions in terms of the amount of debt.

This region also has the highest rate of growth in liabilities of flagship companies - plus 11.2% since the beginning of 2021. The construction of the second power unit of the nuclear power plant continues in the Hrodna region.

The total debts in industry amounted to BYN 93.4 billion, in agriculture - BYN 16.2 billion, in construction - BYN 7.6 billion, in trade - BYN 18.7 billion, in transport - BYN 7.3 billion. Total debts have an overdue component.

These are obligations for which the maturity of the debt has passed, but the borrower has not returned the resources to the lender. By August 1, the overdue debts of the flagships exceeded BYN 10 billion. Overdue debts in Minsk amounted to BYN 1.550 billion.

The enterprises of the capital rank first in terms of the growth rate of delinquency in 2021 - plus 9.5%. In the Brest region, the delay as of the reporting date amounted to BYN 935.7 million, in the Vitsebsk region - BYN 917.4 million, in the Homel region - BYN 2.120 billion, in the Hrodna region - BYN 524.3 million, in the Minsk region - BYN 2.560 billion, in the Mahiliou region - 1.436 billion BYN.

The overdue debt of flagships in industry reached BYN 4.492 billion, in agriculture - BYN 2.953 billion, in construction - BYN 874.8 million, in transport - BYN 328 million, in trade - BYN 670.3 million.