18 Sep 2023 15:59

Belarus sees gross external debt decline 7.4% in H1 2023

MINSK. Sept 18 (Interfax) - Belarus' gross external debt decreased by nearly $3 billion, or 7.4%, in the first half of 2023, according to the statistical report from the National Bank of Belarus (NBB).

According to the NBB, gross external debt declined from nearly $39.795 billion as at January 1, 2023, to nearly $36.844 billion as at July 1, or 48.9% of GDP.

Government administration accounted for nearly $17.21 billion, depository organizations for $5.479 billion, intercompany lending for nearly $2.11 billion, and other sectors for around $12.045 billion.

Net external debt, less debt assets placed outside the country, was nearly $10.608 billion as at July 1 this year.

As reported, the country's gross external debt decreased 5.3% to $37.61 billion in the first quarter, or 50.5% of GDP as at April 1 this year.

"Unlike external public debt, which includes only the government's obligations to non-residents, gross external debt covers financial obligations to non-residents of all residents of the republic," the regulator explains.

Belarus' gross external debt declined 5.3% to $39.75 billion, or 54.3% of GDP, in 2022 after decreasing 0.2% in 2021, and rising 3.5% in 2020 and 3.7% in 2019.