Belarus’ Foreign Debt May Exceed Safety Level – Minister

RIA Novosti
Thursday 21st February, 2013

MINSK, February 21 (RIA Novosti) – Belarus’ total foreign debt may exceed the safety threshold of 55 percent of GDP in 2013, if the government continues its policy of massive state support to its enterprises, Economics Minister Nikolai Snopkov said in a report released on Thursday. “Calculations show that in the conditions of the ‘classic’ use of state support, enterprises focus their activity on utilizing sums allocated rather than on their development. Already today an additional $3.5 billion worth of investment has been announced for modernization,” says the report….

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