OREANDA-NEWS. On 26 August 2008 Finance Minister Andrei Kharkovets told reporters, that Belarus plans to develop the national financial market, especially the corporate securities segment.

“The financial market remains underdeveloped. We must teach the real sector that financing of their activities must not depend on bank loans or state support. The market is filled with resources that enable enterprises to find financing without intermediaries,” Kharkovets said.

“We believe we will have several companies in late 2008 or early 2009 to show how the financial market should be working,” the minister said.

Commenting on financial market instruments, Kharkovets said the ministry would focus on corporate securities. “We do not rule out foreign borrowing, either. We keep working, keep monitoring financial markets and will enter capital markets as full-fledged players,” he said.

Kharkovets went on to say that the Finance Ministry would keep working on upgrading the national financial system to intentional standards. “We must help the real economy integrate into the world financial system,” Kharkovets said.