Financial market activity in Belarus depends on the pace of economic recovery. It is important that the National Bank and the government should be able to offer a competitive business environment for those markets. Today 75% of shares of Belarusian OAOs are owned by the state. The future of the financial market will depend how those shares get to that market and how they circulate there.

First Deputy Finance Minister Maksim Yermolovich made a statement to this effect in Minsk at the Belarusian Investment Forum on Thursday.

The vice minister pointed out that it is important to steadily liberalize the insurance market by decreasing the share of state-owned assets and by letting private companies sell mandatory insurance (this sector is now monopolized by state-owned insurance companies). Read the full story BELARUS: Financial market activity depends on economic recovery