Russia agrees to refinance some state loans to Belarus - Belarusian finance minister

MINSK. April 8 (Interfax) - Belarus has reached an agreement with Russia to refinance a portion of previously provided government loans, Belarusian Finance Minister Yury Seliverstov said.

"There are still many issues that we need to move further, since this agenda is not the simplest. But on some agreements we reached agreement on refinancing of Russian government loans that were previously granted to the Finance Ministry," Seliverstov said after Belarusian Prime Minister Alexander Turchin's visit to Moscow on April 7, state news agency BelTA reported.

"This will provide support for our financial system, balance of payments, but we will continue to work," he added.

First Deputy Economy Minister Andrei Kartun, commenting on the results of the negotiations, said the two countries plan to implement a number of new import substitution projects.

"We are working out another ten projects. Of the ten, the sides have agreed on eight projects. And we will work out further mutual financing. Those very aircraft are moving into a concrete, tangible plane. There is mutual penetration of investment," Kartun said.

He said "our economic growth rate is virtually one and the same - about 4% - and we've been growing mutually for two consecutive years."

However, official sources have not reported a decision on the price of Russian oil supplies to Belarus as a result of the visit. It was reported earlier that President Alexander Lukashenko ordered Turchin ahead of the visit to Moscow to negotiate a reduction of prices for Russian oil to ensure the profitability of Belarusian oil refineries.