Belarus sees gross external debt decline 7.4% in H1 2023

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), Azernews reports, citing Interfax.

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.