Belarus' Economy Ministry: Timely managerial decisions accelerate business turnaround

Timely managerial decisions accelerate business turnaround, Stanislav Sadovnikov, Deputy Director of the Reorganization and Bankruptcy Department of the Economy Ministry, said as he delivered a lecture as part of advanced training of specialists who will represent the government in the management bodies of joint-stock companies, BelTA learned from the press service of the Economy Ministry.

Stanislav Sadovnikov spoke at Belarusian State Economic University and the Center for Advanced Training of Managers and Specialists of the State Property Committee. According to him, the success of the efforts to return a company to consistently positive performance during the consideration of a company's case in the court depends primarily on the participation of ministries, concerns and executive committees in the company rehabilitation at the pre-trial and trial stages. Such participation of government agencies benefits the development of individual regions and industries, helps increase income and employment.

In line with the insolvency bill, the scope of responsibility of sectoral authorities and executive committees is expanding in terms of anti-crisis management of subordinate state enterprises and joint-stock companies having a government share in the authorized capital.