Belarus serves all loans and cuts foreign debt despite sanctions – Putin – business and economy

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ST. SAINT PETERSBURG, July 13. / TASS /. Belarus serves all loans and reduces its external debt, despite all the sanctions, acts as a reliable and stable partner, Russian President Vladimir Putin said at a meeting with his Belarusian counterpart Alexander Lukashenko on Tuesday.

“Despite the coronavirus, other situations, including those related to external challenges, I mean all kinds of sanctions, the republic serves all loans. Moreover, the external debt of Belarus decreased by 2.5%, by 0.5 billion rubles. In this sense, Belarus is a reliable and stable partner, gold and foreign exchange reserves significantly exceed the required level for servicing foreign trade operations, ”Putin said.

Putin noted that agricultural production in Belarus fell by just over 1%, while industrial production increased by more than 16%. “This is a very good indicator considering our deep cooperation in the industrial sector. I hope that the industrial ties that we have maintained since the times of the Soviet Union and have developed in recent years, all this has a positive effect on both the Russian economy and the economy of Belarus, ”he summed up.

During the last meeting of Putin and Lukashenko in late May to discuss trade and economic relations and the fight against the coronavirus pandemic, the conversation also referred to the incident with the Ryanair plane. In addition, on July 1, Putin and Lukashenko held a telephone conversation, during which they discussed the problems of the ongoing sanctions pressure on Belarus and the opening of new Belavia flights to Russia.

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