Expert: Belarus's foreign debt caused by private banks

Belarus's foreign debt has increased by 13 percent to amount to over $14 billion since eary this year. But economist Leanid Zaika says we should not fear an economic crisis, because the debt grew due to private banks who borrowed actively abroad. In the view of Mr Zaika, everything depends on the stability of borrowers. As for the state, it has a sufficient resource.

“The revenues in the foreign currency has grown by 60 percent in Belarus since early this year. Apparently, we are able to pay".”

At the same time, the economist noted that the drop in oil prices and growing gas prices could affect the country's performance.