OREANDA-NEWS. Belarus' Premier Mikhail Myasnikovich believes that proceeds from state property privatization should be the only resource for raising the country's gold and FX reserves and paying off the external debt.

“We believe that privatization should be the only reserve for building up gold and foreign exchange reserves and settling debts,” Myasnikovich told Belarusian parliamentarians on Friday. The premier believes that privatization should be the key instrument to optimize the balance of payments and ensure economic security. It is more beneficial and safer that taking out new loans, the premier said.

Belarus hopes to draw USD 2 billion in privatization proceeds in 2014 and raise another USD 1.5 billion by means of internal and external borrowing.