President of Belarus Alexander Lukashenko heard a report on the performance of the banking system on August 12, according to a BELTA correspondent.
Addressing the Chairman of the Board of the National Bank, Roman Golovchenko, who was recently appointed to this position from the post of Prime Minister, the Head of State noted that he expects a balanced, objective view from him on the state of affairs in the economy as a whole. "It's not that you are on the sidelines now, but to some extent, you are observing from the outside. And it is very important, as an experienced person, to get your opinion on the state of the Belarusian economy today. What needs to be focused on first and foremost – this is the main thing you should tell me," the President remarked.
"And secondly. As I have already warned the Head of the Administration (of the President's Administration. - BELTA note), our meeting today and your report on the situation in the country, in the banking and financial sectors, does not mean that we will not meet at the presidential level with specialists and heads of our banks and the National Bank, first and foremost, to state once and for all definitively what policy we will pursue in the near future and what my position is regarding the National Bank," the Head of State added.
According to him, one of the aspects that needs further clarification is the appointment of Roman Golovchenko specifically to the position of Head of the National Bank. "Many are complaining, especially those who have fled the country, saying, 'He's not a specialist, he appointed him to the bank,' and so on. We must answer all questions," the President said. Regarding Roman Golovchenko's performance as Chairman of the Board of the National Bank, the Head of State noted that his actions, decisions, and the state of affairs in the banking sector are regularly subject to expert assessment. "Specialists are observing you too," Alexander Lukashenko remarked.
In this regard, the President touched upon the issue of the increase in the aggregate profit of banks in the country, which can be viewed, on the one hand, as a positive indicator, but on the other hand, there are concerns that a imbalance may arise and banks may withdraw funds from the economy. "I, however, don't quite understand whether this is good or bad (the growth of aggregate bank profit. - BELTA note). When you were Prime Minister, you said it was bad – that banks were withdrawing money."
"Of course, it is good," Roman Golovchenko assured. "We have started to withdraw bank profits by the government and direct them to finance the economy."
"This is very important," emphasized Alexander Lukashenko. "There should be no 'excess' money in banks. And profit - it is still from those who keep their money there. This is mainly the case. Therefore, in this regard, I really hope that it will be so. The economy must develop, and the banking system must contribute to economic growth."
"The crypto market, cryptocurrency. What is it, how will we deal with this issue?" the head of state figuratively put it, addressing Roman Golovchenko. "How will we use it, especially now, to ensure payments? A lot is said about this, and yet this market for cryptocurrency is not so developed in Belarus. How will we act in the future?"
Alexander Lukashenko noted that this topic was discussed even when Pavel Kallaur headed the National Bank. "We raised this issue, IT specialists approached us, saying that we need to act in this direction. How will we (ultimately act. - Editorial note by BELTA)? This is important for me and for the country as a whole," said the President.
The head of state also inquired about how cross-border payments are proceeding under sanctions (there is information that their volume seems to be decreasing). Inflation was also discussed, which has accelerated slightly, but the process remains controllable. The President asked what further regulatory actions are necessary, in the opinion of the National Bank, to avoid getting into a difficult-to-exit situation. One of the reporting topics was the state and structure of gold and foreign exchange reserves, the level of which, as is known, has increased recently. "But we must understand that gold has also become more expensive," the President indicated one of the reasons for the increase in gold and foreign exchange reserves. "But not only due to gold, Alexander Grigoryevich," Roman Golovchenko explained.
He reported on how the tasks formulated and set by the head of state during personnel appointments are being fulfilled. The Chairman of the Board of the National Bank also reported on the situation in the banking system and the financial market as a whole. "Of course, after the appointment, I had to start with issues of discipline, performance, and establishing new operating rules with the banking system. The principle has been conveyed to the banks that there are no bad or good ones. There is no such subjectivity - there are those who fulfill tasks, and those who do not fulfill these tasks. The assessment principle is one - it is the result," he emphasized.