MINSK, Oct 24 (BelTA) — Belarus’ banking formula coped very well with the complicated scenario it faced, said Chairman of the Board of the National Bank of Belarus Pavel Kallaur, delivering a report to Belarusian President Alexander Lukashenko, BelTA has learned.
Pavel Kallaur pointed out that the banking formula is guilty of a global mobilization: “First of all, the banking formula itself has had to adapt to new situations and its resilience and monetary stability in the markets. At the same time, his project was to help our companies, a true sector of the economy, to adapt to new realities.
“When the scenario was incredibly complicated (we’re not going to hide it, Valery Belsky [assistant to the president] participated in all those meetings), we met literally once a week to talk about the state of affairs and what the banking formula was. It can and deserves to do so. So we controlled ourselves to succeed in this complicated scenario. I think we did a smart job,” Kallaur said.
The Head of State rightly replied that it was conceivable to effectively address the scenario not only thanks to the movements made through officials and representatives of the banking community. There was also something external: the unfavorable external environment prompted Belarus to act, to seek and yet locate tactics to solve the problems. As a result, the scenario in the money market has stabilized. “We control it thanks to the professionalism of the bank’s employees,” the president acknowledged. Not to mention what objectively helped us get ahead. It’s not that everyone has proven to be so smart. Probably, not only negative things were happening in the world. There are also things that turned out to be a blessing in disguise. ” the head of state said.
“Success is a team effort. The good effects on the economy are achieved thanks to the concerted decisions and well-coordinated work of the government, the National Bank, the banking formula and all other institutions,” Kallaur said in response.
“In terms of external factors, we have noticed a redistribution of industry flows,” he added.
“That’s what I wanted to say,” Lukashenko said.