Take And Share

Where Lukashenko decided to look for money.

The needs of the Belarusian economy are growing, but it lacks money. But the recipe for this case has been known for a long time. If you don't have enough money, you should take it from someone who has a lot. In our case - Belarusian banks. And in the economy, where there are no laws, one may not even bother with complicated financing schemes. Alexander Lukashenko decided that it's necessary to simply withdraw excessive profit from the Belarusian banks, writes planbmedia.io.

"There shouldn't be extra money in the banks. And profit - it's still from the people who keep that money there. That's basically the way it is. So I'm very hopeful in that respect that that will be the case. The economy should develop, and the banking system should contribute to the growth of the economy," said Lukashenko on Tuesday at a meeting with the head of the National Bank Roman Golovchenko.

Well, because, indeed, it turns out to be an outrage. Because according to the plan, the economy of Belarus should have grown by 4%, but the real growth for six months amounted to only 2.1. At the same time, Belarusian exports are falling, so the Belarusian factories will not have enough profits to fulfill their plans.

But the Belarusian banks, unlike the rest of the economy, are really feeling pretty good. For six months, the profit of banks has increased by 18 percent and amounted to Br2 billion. That is, there's something to take and something to share.

That's why Lukashenko said that "at the level of the state" it was decided to withdraw part of the banks' profits and direct this money to finance the economy. Lukashenko did not specify which part of the profit the authorities are going to withdraw and how much "extra money" the banks have.

He did not share details about the form of withdrawal and did not say whether it would affect only state-owned banks or whether all banks would have to share it. Because the profits of state-owned banks alone may not be enough for the entire economy. But if Russian subsidiaries are also forced to share, then life will certainly become more cheerful. It is not certain, however, that it will last long.

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