Belarusians Find Out About Billions Of Debts In Industry

The amount of debt in the industry jumped by 44.2%.

The authorities began publishing detailed information on lending to companies in the real sector. Debt can now be viewed from different angles. Loans issued by Belarusian banks are in rubles and foreign currency. According to the officials, by March 1, the volume of debt of the manufacturing industry on loans in Belarusian rubles reached BYN 6.806 billion, banki24.by writes.

Over a rolling year (12 months), the size of industrial debt jumped by 44.2%. In terms of maturity, short-term debt prevailed among ruble loans - BYN 3.918 billion (versus BYN 2.888 billion for long-term).

Short-term debt increased by 75% over the rolling year. Such a rapid growth in short-term loans can be explained by the 2020 crisis and its consequences in terms of washing out the turnover of enterprises. Banks lend their shoulders to the real sector, which is in a difficult position.

But the dynamics of long-term loans was by no means so high. Over 12 months, the volume of debt increased by 16.4%. It seems that commercial banks do not see worthy investment projects in the industry, which can “recoup” investments for several years.

The main ruble debtor in the manufacturing industry is the food industry. Manufacturers of food, beverages and tobacco products have accumulated liabilities in the amount of BYN 1.867 billion on short-term lines and BYN 1.363 billion on long-term lines. Debts on short-term loans to the food industry grew by 48.8% over the rolling year, while on long-term loans they decreased by 2.3%.

It is noticeable that banks did not risk lending to food industry workers for a long time. New long-term loans were issued in the amount of repayment of old debts. Debts of the manufacturing industry on foreign currency loans amounted to USD 5.961 billion in the equivalent. Over 12 months, the amount of liabilities decreased by 8.4%.

The officials gave a plano-gram of foreign currency loans in terms of major currencies. As of March 1, industrialists owed USD 2.111 billion, EUR 2.683 billion, and RUB 42.264 billion. Liabilities for short-term foreign currency loans amounted to USD 2.330 billion in the equivalent, for long-term loans - USD 3.631 billion. Short-term debt fell by 22.7% over the year, while long-term debt increased by 4.1%.

In terms of debt on short-term foreign currency loans, the leaders were oil refining enterprises (USD 663.5 million), mechanical engineering (USD 441.1 million), the food industry (USD 232.4 million) and the chemical industry (USD 206.9 million). In terms of long-term foreign currency loans, the first places in industry were held by the chemical industry (USD 702.7 million), manufacturers of non-metallic mineral products (USD 600.6 million), as well as wood processors and pulp manufacturers (USD 472.7 million).