Lukashenko Is Looking For Money

Lately, Russia has been categorically lacking money for its Belarusian ally.

Because it is not enough. So the Belarusians have to look for internal reserves.

About where the authorities decided to find "extra money" - in the new issue of the program "Optimum" on the YouTube channel "Belarusians and the market".

On Tuesday, August 12, Lukashenko discussed with the head of the National Bank Roman Golovchenko ways to withdraw extra money from Belarusian banks.

"There should not be "extra" money in the banks, and the profit is still this from those who keep this money there. This is basically the case. The economy should develop, and the banking system should contribute to the growth of the economy," said Lukashenko.

But, in general, it's right. Why do banks need money? They have no imagination. The banks will spend their money on something stupid anyway. The government is another matter. The government is always ready to spend other people's money on something useful. For example, on a new giant pig farm, another bus factory or a second nuclear power plant.

Because the plans for GDP growth will not fulfill themselves. In six months, the Belarusian economy has grown by only 2 percent, although it should have grown by four percent. Neither external markets, nor the domestic one, have not justified the high hopes placed on them. Therefore, the Belarusian economy needs new incentives.

And the banks have these incentives. For six months, the profit of commercial banks increased by 18% and amounted to 2 billion Belarusian rubles. Another billion is the profit of the Development Bank. In total, we get three billion rubles. That is, there is something to take, and there is something to share.

"We have started to withdraw the profit of banks by the government and direct them to finance the economy," said Golovchenko.

He really did not specify what share of profit the authorities decided to consider excessive. Because it still matters whether they withdraw ten percent or ninety percent from banks. He did not share how this excess profit is withdrawn. Because there can be different ways. And he did not say whether it concerns only state-owned Belarusian banks or Russian banks were also asked to contribute to the Belarusian prosperity.

But in fact, the details may not be important here. The principle is more important. That is, if earlier the Belarusian authorities used to come up with some preferential loans, bank subsidies, purchase of bonds of state enterprises by banks, nobody bothers with it here. Well, what for, if you can just take away the extra profit from the banks?

And what percentage of profit to consider extra will depend on the specific needs. The main thing is to start. Today it will be 10 percent, and tomorrow it may be ninety percent. Especially since the needs are always growing.

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