Belarusian railway is experiencing significant financial difficulties
It is reported that JSC “Belarusbank” will issue a loan to the Belarusian Railways for 300 million Belarusian rubles for a period of up to 3 years at a refinancing rate increased by 4%. This is reported by Railway Supply magazine with reference to the Community of Railway Workers of Belarus.
This loan is 8.8% of the company’s annual income and exceeds its monthly revenue. It was issued in order to fulfill the obligations to the bank, pay off debts to the budget and finance production activities. It is also noted that the Belarusian Railways completed the first half of 2022 with a net loss of 81.6 million Belarusian rubles, and in general for 2022 the loss is estimated at 225.9 million rubles. While in 2021 it had a net profit of 48 million Belarusian rubles.
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It should be noted that the situation with almost continuous lending to the current activities of the Belarusian Railways is not new and has been going on for ten years. “Eating away” their assets is the only truly systemic policy and strategy of the Belarusian Railways.
Apparently, the BZD does not have a policy or strategy for getting out of the situation. From year to year, from month to month, the Belarusian Railways takes loans not only to pay off old obligations, but also to maintain its activities.
The trend is steadily leading to bankruptcy, and is certainly welcome and of great interest to Russian Railways in its policy of complete takeover and annexation of the Belarusian Railways. Apparently, there are those in Belarus who are interested in the denationalization and sale of the Belarusian Railways.
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