Financial rehabilitation of agricultural businesses was the key topic that the President of Belarus discussed yesterday at a meeting.
The President instructed the government to develop effective measures to promote agriculture late last year. Insolvent organizations of the agro-industrial complex need a new mechanism for financial recovery without judicial procedures. The authority in this matter will be delegated to the heads of district executive committees. Now this issue is regulated by Decree No. 253, but so far it only helped half of the farms. The new draft document outlines the possibility for a creditor to choose a restructuring mechanism. The President was interested in the prospects for the development of those agricultural enterprises that are supported in the framework of the decisions already taken.
Following the discussion, Alexander Lukashenko supported the proposed draft decree. It is expected that after a little revision the document will be signed by the President. Also, the meeting focused on the situation in agriculture in general. For example the harvesting season has already started in some areas. Nearly 600,000 tons of grain was harvested.
