Zaika: We've Reached Rock Bottom And Are Ready To Dance Attendance Upon Everyone
- 6.03.2019, 13:04
The economist has said why the government of Belarus should be deprived of diplomas.
Aliaksandr Lukashenka has thanked the President of the European Bank for Reconstruction and Development (EBRD) for loans of several hundred million euros. What is this money?
In 2018, the EBRD invested record 360 million euros in Belarus – mainly in the private sector. On March 4, the head of the country thanked the president of the bank, Suma Chakrabarti, who came to Minsk for helping the country:
“I would especially like to mention those projects that are related to the area of housing and communal construction, improving the quality of drinking water (this is very important for us), building roads, repairing bridges, which is to be done in many localities at the earliest. These are vital projects for our state.”
The banker, in turn, expressed a desire to increase the volume of investments in Belarusian projects. How should we evaluate the EBRD loans?
The head of the Strategy analytical center, Leanid Zaika, has answered the questions to the udf.by site.
“The EBRD’s profit margin is relatively small. And at one time, our banks had a profit rate of 35%. When I started writing about it, they lowered it to 17%, fearing that the people would be in shock. But the EBRD does not have any soft loans. The European Bank for Reconstruction and Development works in all the locations, looking for a smart director of the company which is able to make a profit, and makes millions,” – the economist said.
EBRD President Suma Chakrabarti said at the meeting with Aliaksandr Lukashenka:
“As you rightly noted, last year, the investments rocketed up and reached almost $ 400 million. This is an excellent indicator.”
Leanid Zaika evaluates this amount of investment in a different way.
“What money is this? Putin will find you 400 million in cash in half an hour. We have reached the rock bottom and are ready to dance attendance upon everyone. It is a shame that they haven’t been able to raise a billion in 25 years to allocate money for this or that project. It is necessary to deprive the Minister of Economy, the Minister of Finance and the Prime Minister their diplomas for this, and make them pass a competency test,” – the economist believes.
In general, Leanid Zaika adheres to the following position:
“My thesis, which I would post at the entrance to Belarus: “When a country has brains, other people's money is not needed.”