Belarusian govt not inclined to dramatize economic situation

MINSK. May 29 (Interfax) - The current situation in the Belarusian economy is far from critical and Belarus will have no problem repaying its foreign debt in the future, Belarusian Deputy Prime Minister Andrei Kobyakov said.

"I would not dramatize [the situation]," Kobyakov said, commenting on the evaluation of the Belarusian economy given by Russian Deputy Prime Minister Alexei Kudrin in Minsk on Thursday.

Kobyakov reiterated that "it is very natural that countries take foreign loans" in the current world financial crisis.

"Many respected countries do that, and Belarus is no exception," said Kobyakov, adding that Belarus needs foreign loans to even out its trade balance.

"There are parameters of economic stability. In Belarus, foreign debt is less than 14% of its GDP, and that is the lowest figure in the CIS," he said.

On Thursday, Russian Deputy Prime Minister Alexei Kudrin said the provision to Belarus of the next loan in an amount of $500 million depends on Belarus' efforts to ensure economic stability in the country. Kudrin said he believes Russia may be faced with the insolvency of the Belarusian government and the Belarusian economy in general due to the insufficiency of its gold and currency reserves at the end of 2009 or in a year's time.



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