Lukashenko: we need to seriously optimise Belarus’ banking system
When approving the appointment of Sergei Stolyarchuk as Chairman of the Development Bank’s Management Board, President of Belarus Aleksandr Lukashenko instructed to study the issue of optimisation in the banking sector
The Head of State wondered in detail about the peculiarities of the bank’s work and whether there was any duplication of functions in the selection of investment projects for financing with local authorities, ministries, and departments. Aleksandr Lukashenko proceeds from the fact that the heads of certain industries and representatives of local authorities know better what and where to build, as well as what projects to implement.
“Specialists understand perfectly well that it is not the bankers who say, but they who say what to build and what is optimal. I am sure that your bank is turning into a key sponsor of all major projects. I’m not saying that we don’t need this bank. Otherwise we would not have appointed you. However, banks need to be optimised. We don’t have enough people in other areas, e.g. in the agro-industrial complex. Perhaps, we don’t need so many banks for one such country; this distracts specialists who are great professionals and financiers.”
In this regard, Aleksandr Lukashenko addressed First Deputy Head of the Belarus President Administration Maksim Ryzhenkov, and also recalled that a specialist in the banking sector, Aleksandr Yegorov, was recently appointed as Deputy Head of the Presidential Administration, “We need to seriously work with the banking system now, despite the difficult times. We will make a decision in the nearest time. Or maybe we won’t make a decision at all. But we need to see because there are too many of these parallels. Why do we need excessive competition in Belarus, where the financial system is stable and disciplined and there are no extra resources? I believe that specialists on the ground see more. It’s not their [bankers’] function to persuade chairs of district executive committees to implement the project. There is a decision by the President: one district – one project. That’s all. What is here to discuss?.. Let’s see how heads of district executive committees implement these projects together with the governors.”
