Belarus abandoned the idea of introduction the institution of bankruptcy of individuals

The institution of bankruptcy of individuals, which has become widespread in Russia and a number of Eastern European countries, will not yet be introduced on the territory of Belarus.  This is due both to the high rate of repayment of loans, and, in general, to the low level of debt load of the country's citizens.

This position was voiced by the judge of the Supreme Court Viktor Shilchenok. The servant of Themis indicated that, in his opinion, it was premature to introduce the institution of bankruptcy of individuals in Belarus. Before making a decision, it is necessary to study a number of economic indicators, Belta reports.

Shilchenok recalled that the country had a low level of debt load of the population and a good culture of debt repayment.

At the same time, Belarus is preparing to consider a draft law aimed at solving the problem of insolvency of companies. The document was developed on the basis of the requirements of Alexander Lukashenko, who ordered to shift the focus towards enterprises that had found themselves in a difficult economic situation. In addition, he instructed to remove the excessive burden from the courts by assigning the responsibility for coordinating the process to the government, as well as executive authorities.

The Supreme Court noted that the need to reform the institution of economic insolvency had appeared a long time ago. This is due to both the existing law enforcement practice and the need to support viable organizations in the country.