RECHITSA, 14 October (BelTA) – The implementation of Belarus president decree No. 253 of 4 July 2016, which stipulates measures to financially rehabilitate agricultural enterprises, will allow greatly improving the performance of these enterprises in addition to securing normal parameters of the country's agribusiness industry, BelTA learned from Prime Minister of Belarus Andrei Kobyakov on 14 October.
Progress in implementing the presidential decree on the financial rehabilitation of agricultural enterprises was in the center of attention of Andrei Kobyakov's working trip to Gomel Oblast on 14 October. The Prime Minister also said he intended to understand how thoroughly the documents signed by the head of state had been studied and how consistently the documents were being implemented. “There are no major remarks about the approaches to implementing these measures, however, a great deal of complicated work to resolve financial problems of individual enterprises lies ahead of us,” remarked Andrei Kobyakov. Some Belarusian agricultural enterprises are in need of profound rehabilitation while some other ones may be subjected to the bankruptcy procedure. “We believe that only a handful will be subjected to the bankruptcy procedure. We intend to resort to the sanitation procedure instead of shutting them down,” said the Belarusian head of government.
The work to implement the presidential decree proceeds on a systemic basis and involves Belarusian banks. The efforts are ultimately supposed to improve the financial state of not only the agricultural enterprises but also the banks that had lent money to the agricultural enterprises, with some of the loans now in trouble. A special agency to deal with troubled loans has been set up. These assets will be taken away from the banks, thus improving their balance of payments.
“The combined measures will also enable more comfortable conditions for the enterprises specializing in processing agricultural products. The relevant documents the government is preparing are nearing completion,” said Andrei Kobyakov.
As a result, the measures the presidential decree stipulates will be able to secure the financial rehabilitation of Belarusian agricultural enterprises without negatively affecting the government's macroeconomic policy. These agricultural enterprises will then be able to work in modern economic conditions in a normal manner, stated the Prime Minister.
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