Belarus' President advocates flexibility when solving self-employed businessmen's problems
One needs to be flexible and apply purely economic mechanisms in solving the problems of self-employed businessmen. On March 17, the President held a meeting to discuss the development of certain types of business in Belarus.
In 2014, Belarus adopted a decree that made businessmen provide documentary evidence of the acquisition of products sold. This was done to ensure additional protection of consumers and at the same time was considered a step towards the creation of equal conditions of economic entities' work.
IMF says first steps of updated Belarusian government encouraging
The International Monetary Fund has said that the first steps of the Belarusian government updated are encouraging. This was said by head of the IMF mission David Hoffman on March 16.
The organization's representative said that he supports the National Bank's intention to make the transition to a more flexible exchange rate and the tightening of monetary policy.
According to him, it is necessary to tighten macroeconomic policy, including by controlling domestic demand.
President reviews Belarus' Development Bank's operation in 2014
President Lukashenko met on March 16 with chairman of the Belarus Development Bank, Sergei Rumas, to discuss the support of small and medium-sized businesses, diversification of supply and the outcome of the bank's operation. Until now, this commercial organization remains the leader in terms of total profit, profit per employee and profitability.
By the end of 2014, the assets of Development Bank increased by 33%. At the same time, the diversification of supplies today remains one of the main challenges.
Belarus-Russia Union State’s budget for 2015: Joint projects
During the Union State of Russia and Belarus discussion of space technologies at the National Academy of Sciences of Belarus (NASB), it was announced that Belarus is working on a new satellite. Its launching is expected no sooner than 2018.
High-Tech Park in Minsk: 137 residents, 21,000 specialists and 90% of products for export
There are plans to launch the business incubator of the Park of High Technologies plans to launch before the end of April. It must become the biggest in post-Soviet space.
The outcome of the work of the HTP was voiced on March 12.
At present, the High-Tech Park is 137 resident companies and 21,000 professionals. Some 90% of the total amount of products is sold to foreign markets. And by the way, compared with the year 2014, the increase is 31%.
Business incubator in Belarus' High-Tech Park by end of April 2015
There are plans to launch the business incubator of the Park of High Technologies before the end of April. It must become the biggest in the post-Soviet space. This was said on March 12 by director of Park Valery Tsepkalo. Construction and installation work has already completed and now furniture is being purchased.
According to Valery Tsepkalo, the opening a business incubator is one of the main objectives of the Park in 2015. It will also expand its activities.
This was made possible thanks to a decree signed by the head of state.
IMF approves $17.5 billion loan for Ukraine
The International Monetary Fund has approved for a new $17.5 billion credit program for Ukraine. During 2015 Kiev will receive $10 billion, said IMF Managing Director Christine Lagarde.
The current loan is part of a larger program of assistance to Ukraine of the IMF designed for four years. It totals almost $41 billion.
Andrei Kobyakov visits Minsk enterprises March 11
Cost reduction, new markets and strong export capability. Prime Minister of Belarus, Andrei Kobyakov, visited Minsk enterprises on March 11. The Prime Minister visited both private and public sector organizations.
Directors of companies together sought a way out of a difficult situation. The situation in the industry has repeatedly been discussed at the presidential level. Alexander Lukashenko had earlier ordered to make quick decisions and warned of inadmissibility of receivables.
Belarusian NPP construction: 15% completed
Some 15 percent of the project to build the Belarusian nuclear power plant has been completed. This figure today announced by the customer of the project.
The site in Astravets now employs more than three thousand builders. It is expected that this year delivery of the main equipment will begin, including the reactor vessels.
Also, workers are erecting a training center. It will open in late 2015. It is designed for staff training.
Alexander Lukashenko meets with Russia's Kursk region governor
Official Minsk has always openly and honestly co-operated with Russia. This was underlined by Alexander Lukashenko at a meeting with the governor of the Kursk region, Russia. Now the delegation of the Russian region are in Belarus.
Belarus and Kursk enterprises are united in a single production chain. Joint production of Belarusian trolleybuses has started in the Kursk region. There is a desire to expand industrial cooperation, too.
Balarus' government mulling over economic program for 2016-2020
The Council of Ministers on March 10 examined the concept of socio-economic development of Belarus until 2020. It is based on five pillars. For example, the regional development and support for innovations.
However, experts still have a lot of questions and suggestions. The concept of the program will be further developed.
Belarusian enterprises to take part in construction of Kursk NPP
Belarusian enterprises will take part in the construction of the Kursk NPP. This was said at the meeting of the joint working group of Belarus and the Kursk region.
It is expected that Belarusian specialists will perform construction work on all types of networks and communications installations of the station.
Also, members of the delegation signed a number of contracts. Among them are documents for the purchase of machinery of Belarusian production. In particular, they negotiated the purchase of heavy-duty trucks as well as tires for buses and tractors.
Alexander Lukashenko: Official Minsk has always openly and honestly cooperated with Russia
Official Minsk has always openly and honestly co-operated with Russia. This was stated by President Alexander Lukashenko at the meeting with the governor of the Kursk region Alexander Mikhailov. Now the Russian delegation is visiting our country.
Despite the difficult economic situation, trade between Belarus and Kursk region grew and reached 250 million dollars. In mutual trade, there is the entire range of goods, from appliances to food.
Dialogue with the leadership of the region is one of the most productive.
Belarus President questions effectiveness of forestry complex operation
The main focus is quality. The Belarus President hosted a meeting on 9 March on the improvement of the work of forestry ministry. The head of state reviewed a draft decree on the improvement of activities in this area.
Quality of wood processing is among top priorities. This will provide a high added value.
Modern wood processing enterprises mean additional export potential for Belarus. The upgrading of production facilities will help compete in the market and earn foreign currency.
Belarus' President meets with heads of major industrial enterprises
The head of state discussed with factory directors the situation in Belarusian industry on March 6. This sector was the most susceptible to external adverse factors. Industry Ministry enterprises occupy one-fifth of the total industrial production in the country, more than half of it is exported. In recent years, they are seriously lagging behind.
The President instructed to exclude red tape and make decisions quickly.
Meetings on the economy have become regular. It helps to quickly solve problems.
Why Uzbeks don't expect money from president and love Belarusian machinery
Elections in Uzbekistan will begin a year of political campaigns in the post-Soviet space and in Belarus' neighboring countries. In April, early presidential elections will be held in Kazakhstan. In Belarus, the presidential election takes place in November, according to the plan. The powers of the president of Latvia also end in 2015, but the president there is chosen by the sejm (parliament). And in May, Poland will elect its leader.
Belarus' Premier visits several enterprises of Vitebsk on March 5
The Prime Minister of Belarus visited several Vitebsk enterprises on March 5. One of the most pressing issues was credit policy and the refinancing of plants.
This production line of the Vitebsk enterprise Energokomplekt now produces cables of medium and high voltage. These cables are among the best in the world. During one year, more than 5,000 kilometers of wires comes off the assembly line.
Belarus creating improved spacecraft
Belarus is working on an improved spacecraft, representatives of the Academy of Sciences of Belarus told reporters on March 4 during the discussion of the Union State programs in the field of space technologies.
It is difficult to say for sure when another Belarusian satellite will go into space. The relative length of its creation is three years. At the moment, scientists are conducting preliminary assessments of technical configuration of the aircraft and determining its effectiveness.
Effectiveness of Belarus-Russia Union State joint projects
During over 15 years of work in the framework of the Union State, Belarus and Russia have implemented many joint projects. The biggest of them is the project to create SKIF supercomputers. Another one is Union TV, thanks to which the domestic television industry has been restored.
Projects that start each year as part of the integration association of Belarus and Russia are designed to strengthen the security of the two countries and solve social and economic problems as well as develop science.
Belarusian individual entrepreneurs allowed to sell goods without documents, but taxes increase
Belarusian individual entrepreneurs have been allowed to sell goods without documents but taxes will be increased. It is envisaged in the draft of the new decree regulating the activities in this area.
The Ministry of Taxes and Duties notes that, according to the draft document, entrepreneurs retain the right to sell uncertified products. It is necessary, however, to pay a single tax using multiplying coefficients.
The payment of VAT in fixed amounts will also increase. The draft decree will be signed in the near future.
Insurance, travel services in Belarus only for rubles from 1 March 2015
From March 1, one will be able to pay insurance and travel services only using the national currency.
From now on, only Belarusian rubles can be used for fuel at filling stations.
This step by the National Bank is designed to minimize foreign currency settlements in Belarus.
This should increase the confidence of the population and economic entities in the Belarusian ruble and protect the domestic consumer market.
Moldova's economic turmoil. Report of "Picture of the World"
Do you know the difference between recession and economic crisis? Recession is when your neighbor loses his job. And when you have it all bad at home - this is a crisis. Apparently, Belarus is seeing a slight downturn. Crisis is raging in Ukraine. This week, the hryvnia was depreciated to historic low. Moldova is also affected. We do not report on that country so often. And the last information peak fell on the last year's visit of President Lukashenko to Chisinau. By the way, Moldova is among the five main trade partners of Belarus. What's going on there?
Belarus President holds large-scale meeting on socio-economic development
Industrial development, export promotion and addressing of problems with inventory stocks. All these are challenges Belarus currently faces. On Feb 26 they were discussed again. The government, governors and relevant officials discussed topical issues of socio-economic development.
Opening the meeting, the President notes that meetings in such a format will occur more frequently this year. The updated Council of Ministers had time to fully understand the situation and make necessary changes. First of all, Alexander Lukashenko focuses on problematic issues.
Former premier Mikhail Myasnikovich to supervise Belarus' economic growth
On February 26, Alexander Lukashenko held a meeting on topical issues of socio-economic development. One of the main requirements of the President is that decisions on export diversification must be taken quickly. In general, he added, businesses need more flexibility when responding to external factors.
Following the meeting, it was decided to set up a monitoring group, headed by Mikhail Myasnikovich. It will deal with the elaboration of specific measures that will contribute to the development and growth of the economy.
Republic of Komi officials on visit to Grodno region
Cooperation between regions of Belarus and Russia is coming to a new level. Now business contacts will be established directly. This was announced on February 25 by members of the Government of the Republic of Komi (Russia), who visited Belarus' city of Grodno.
Now the economic potential of the parties can not only increase the turnover, but also create joint ventures. Guests are planning to get familiar with the woodworking and tourist infrastructure in the region.
Belarus amends agreement on first nuclear power plant construction
The construction of the first and second power units of the Belarusian nuclear power plant is progressing according to schedule. This was said on February 25 in the Belarusian parliament. However, the deputies considered changes to the agreement on the construction of the station.
The status of the customer as well as the function of the Belarusian and Russian sides have changed.
Premier Kobyakov: Economic policy may be mitigated in Belarus in H2 2015
The economic policy may be mitigated in Belarus in the second half of this year, said Belarus' Prime Minister Andrei Kobyakov at a meeting of the sixth session of the House of Representatives.
Timely payment of wages to public sector workers is not questioned.
Mr Kobyakov presented the program of the Government's activities to the members of parliament.
UAE eager to invest in industry, education, tourism in Belarus
Industry, education and tourism are the areas in Belarus that are attractive to businessmen from the United Arab Emirates, said the UAE's Minister of Economy during a business briefing in Minsk, which discussed joint projects and further collaboration between the two states.
In addition, forum participants got acquainted with new investment opportunities in Belarus, including in the industrial park "The Great Stone", which is a Chinese-Belarusian joint project.
Belarus considers UAE priority economic partner in the Middle East
Belarus considers the United Arab Emirates as a priority economic partner in the Middle East, said Prime Minister of Belarus Andrei Kobyakov at a meeting on 24 February with Minister of Economy of the United Arab Emirates.
The Premier emphasized that Belarus is ready to do everything so that businessmen from that Arab country can work comfortably here.
What can make Belarusian medicines more popular?
President Lukashenko on Friday dedicated a meeting to the topic of Belarusian medicines. Belarus started to produce its own drugs in large quantities to replace imports and earn currency in neighboring markets. How does this happen and what can come of it? Anastasia Ivannikova found out.
What is "Today and Tomorrow" of Belarusian pharmaceuticals?
Belarus supplies about 40% of domestic drugs to foreign markets. Our main customers are the countries of the former Soviet Union and even the United States.
What novelties should one expect in Belarus' tax system?
The importance of the meeting on taxes hosted by the Belarus President this week is understandable, since taxes fill state coffers. Perhaps that is why non-payment of taxes is considered crime in the most advanced countries. Belarus was criticized for an excessively cumbersome tax system, which causes many problems. Once again, President Lukashenko demanded to simplify the tax system and make it more equitable.
Ilona Volynets found out who collects taxes and who refuses to pay them.
Belarus President: Taxation should be as simple as possible, transparent and logical
The Belarus President demanded to adjust the legislation so that those who do pay taxes can work stably. This was stated by the head of state at a meeting on tax policy. After all, a series of reforms hinders business from keeping a reliable record of costs and predicting future earnings.
The President also drew attention to the tax burden. It should be affordable to avoid so-called "salaries in envelopes."
Japanese corporation willing to invest in Belarus' chemical industry
Belarus hopes for a significant expansion of cooperation with Japan. On February 18, this was stated by First Deputy Prime Minister of Belarus Vasily Matyushevsky at a meeting with advisor to the president of the largest Japanese corporation Marubeni.
Belarus is ready to offer cooperation in the petrochemical industry and the automotive industry, and in the establishment of enterprises for the production of agricultural and food products.
In turn, the partners said they are willing to invest in the chemical industry.
Trade Minister: Belarus needs to develop non-cash payments to prevent concealed incomes
Belarus needs to develop non-cash payments, what will prevent the concealment of income. It was announced on February 13 by Minister of Trade Valentin Chekanov.
Representatives of the Office summarized the work in 2014. The meeting dealt with the work of trade facilities, public catering and consumer services.
Among the major violations identified by the experts were expired goods and substandard work with buyers.
Belarus government projects GDP growth in 2015
The Government today announced a program of development for 2015. The document defines three basic principles: economic stability, export diversification and responsiveness to external factors. This will be achieved in several ways. Thus, a slight reduction is expected in the number of housing loans with state support. Instead, foreign trade and investment attractiveness of the country will be enhanced. Meanwhile, the state will preserve the main social programs.
Premier Kobyakov: Belarusian-Iranian cooperation has great prospects
The trade and economic relations between Belarus and Iran were discussed during the meeting of Iranian foreign minister Mohammad Javad Zarif and Prime Minister of Belarus Andrei Kobyakov.
The Head of Government noted that the volume of bilateral trade between the two countries is small and amounts to about $100 million.
According to him, Belarus plans to increase exports of domestic industrial, petrochemical and agricultural products to Iran.
Alexander Lukashenko: Belarus spends too much on social benefits
Taxes is not only a fiscal tool, but also an incentive for economic development. On February 16, the President said this at the meeting on the current issues of tax policy in Belarus.
The topic is not new, however, a lot of important aspects still remain in it. They pertain to tax incentives, tax control, and the current state of Belarus' tax system.
Premier business forum Belarus-France
Geopolitical issues have not gone away even at an economic forum. On February 12, Minsk hosts 1st Belarusian-French business forum. Taking part in it are more than 50 foreign companies.
At the meeting, businessmen from the two countries held talks on cooperation. The participants were the most interested in cooperation in the field of nuclear energy, automotive, chemical industry and construction.
A Belarusian-French car assembly plant is already operational.
Belarus introduces Br27 million fine, confiscation for using services of illegal money-changers
Penalties have been increased in Belarus for illegal foreign currency transactions. The corresponding decree was signed by the Belarus President.
The document provides for punishment for illegal buying and selling of foreign currency exchange - 150 base amounts (1 BA equals Br180,000, ie Br27 million as of 10 February 2015).
The repeated violation costs up to 200 base amounts.
Mogilev enterprise produces elevators for Russian nuclear power plant
A Mogilev factory has made elevators for a Russian nuclear power plant. The Leningrad NPP-2 is now being constructed.
Customers have put forward a number of requirements that forced Mogilev designers to create completely new lifting machines.
Our correspondent Irina Nedoboeva found out the secrets of the Mogilev company's success and asked about their future plans.
Meanwhile, Belarus is constructing its first nuclear power plant. The first energy power unit is expected to be ready by 2018.
Picture of the World's report from the country of Hobbits: What do Belarusians and New Zealanders have in common?
Here is another historical name that few people know - Waitangi! On February 6, this joyous word could be heard at every corner of the distant New Zealand. It was in the village of Waitangi where once upon a time the British signed a treaty with the Indians that New Zealand was transferred under the control of the United Kingdom. Was that a capture or a rescue? Until now, the Queen of England formally rules that country, which does not interfere with the largest dairy country in the world (I do not mean Belarus, I mean New Zealand)... it does not prevent New Zealanders from establis
Eurasian Economic Union to foster elimination of restrictions in mutual trade
To eliminate existing barriers to trade and move to a coherent industrial policy as well as launch joint projects. On February 6, in Russia's Gorki town outside Moscow, members of the Eurasian Economic Union (EEU) announced priorities for the development of the organization.
In 2015, Belarus chairs the EEU integration bodies. Prime Minister of Belarus Andrei Kobyakov held the first-ever meeting of the Intergovernmental Council of the Eurasian Economic Union.
Russian sanitary watchdog blacklists two Belarusian enterprises
Deliveries of Belarusian meat products to Russia are resuming. On February 5, 7 of 9 blacklisted companies gained access to the Russian market. Earlier Russian experts allegedly found a gene of African swine fever in the products of these enterprises. Only beef supplies have been allowed without restrictions.
Alexander Kosinets: Multifunctional complex Minsk Mir at the site of airport Minsk-1 will adorn the city
The mixed-use complex Minsk Mir, which is set to be built on the site of the airport Minsk-1, will cost $3.5 billion.
This was announced on February 4 by head of the Presidential Administration Alexander Kosinets at a working meeting. It was attended by the city's leadership, ministers, and representatives of the relevant departments.
The main goal is to shorten construction time. By the end of 2015, the airport Minsk-1 will cease its operation, and by the early 2017, Aircraft Repair Plant, which is located on its territory, will be relocated.
Mikhail Myasnikovich to local MPs: Is our work effective?
The Council of the Republic should work closely with district executive committees. On February 4, chairman of the upper house of the Belarus parliament, Mikhail Myasnikovich, met with members of the Kalinkovichi, Loyev, Oktyabr and Rechitsa district councils.
At the seventh extraordinary session, such a task was also posed by the Head of State. Such meetings indicate that the work in this direction is being conducted.
According to Mikhail Myasnikovich, the main task today is to make parliamentary work the most effective.
Belarusian businessmen satisfied with relaxation of price regulation
On February 3 pricing rules in Belarus changed. New recommendations of the Ministry of Trade and Economy are now in force.
They apply to legal entities and individual entrepreneurs who work in Belarus, including the residents of free economic zones. Under the new rules, it is now possible to increase prices following the increase in energy costs. The import component is calculated based on the exchange rate of the National Bank.
Mikhail Myasnikovich makes working visit to Molodechno
The executive committee, the management and MPs should work together to solve the problems of citizens. This opinion was expressed by Chairman of the Council of the Republic of Belarus' National Assembly Mikhail Myasnikovich at the ninth extraordinary session of the Molodechno District Council of Deputies.
Russia to remove restrictions on beef supplies from Belarus February 5
On February 5, Russia will remove restrictions on the supply of beef from nine Belarusian companies which products were suspected of containing the genome of African swine fever, said Belarus’ Agriculture and Food Minister Leonid Zatyats following talks in Moscow with the head of the Russian sanitary watchdog Rosselkhoznadzor Sergei Dankvert.
Rosselkhoznadzor said the State Veterinary Service of Belarus has been warned about the inadmissibility of further violations.
Head of Belarusian Agriculture Ministry: We are honest with Russia
Belarus did not allow transit of goods that fell under embargo through its territory to Russia. This was announced by the Minister of Agriculture and Food of Belarus Leonid Zayats who commented on the Russian side's statement that Belarus let forbidden fruit and vegetables pass through its territory.
The claims relate to the facts when products were transported to Kazakhstan rather than the Russian Federation.
Belarus set to increase meat, dairy supplies to Georgia
On February 2, in Minsk, the Agriculture Ministers of Belarus and Georgia signed a protocol in which they expressed their intention to increase the supply of meat and dairy products to Georgia.
In addition to exporting products, Belarus wants to trade with Georgia in Belarusian tractors, too. Our agricultural machinery will fit local farmers. According to experts, there is a real opportunity to increase the current turnover of $62 million.
The Georgian agriculture minister noted that further cooperation with Belarus will be fruitful.
Business community makes proposals to improve business environment in Belarus
The business community has made proposals to improve the business environment in Belarus. Businessmen focused on improving the investment climate, pricing issues, compliance with assortment list and many other matters. Taking part in the drafting of the document was attended by representatives of business associations and business experts.
UN: Belarus occupies top spot in the list of countries with average income
Belarus occupies the top spot in the list of countries with an average income. These are the findings of the UN. Belarus, moreover, is not going to stop there.
Belarus is now developing a national strategy for sustainable social and economic development until 2030 and the national development plan for the next five years. The United Nations stands ready to support these initiatives.
Mikhail Myasnikovich: Prices for Belarusian exports have remained almost at the previous level
Work with citizens should not be formal and needs to be more active. This opinion was expressed by Chairman of the National Assembly Mikhail Myasnikovich in the Borisov district.
The head of the upper chamber of the Belarusian parliament got acquainted with the work of local enterprises. He evaluated the modernized enterprise Borisovdrev and stressed that the greatest attention should be paid to the development of the Borisov district economy.
Belarus President thanks China for friendly help in difficult economic environment
The socio-economic development of Belarus was one of the main topics of the January 29 discussion.
The President noted that Belarus is interested in attracting investments. And the Chinese-Belarusian Industrial Park in the Smolevichy district is one of the examples of Belarus' cooperation with foreign partners. Its implementation will benefit not only Belarus' central region but also the country.
President Lukashenko says common Eurasian market of 170 million beneficial for Belarus
Open dialogue. Alexander Lukashenko is taking part in a press conference during which he answers questions of Belarusian and foreign journalists. The meeting has alerady lasted 6 hours.
The President proposed a new format of a dialogue instead of a press conference. Taking part in the event are 250 journalists.
Communication takes place in an atmosphere of discussion. The President sincerely and honestly answered all questions.
Alexander Lukashenko: I will never give up socially oriented model until the end of my presidency
Open dialogue. Alexander Lukashenko continues to communicate with the Belarusian and foreign journalists on January 29.
The President for the first time refused from the format of a press conference inviting media representatives who gathered in the Palace of Independence. There are 250 of them.
The meeting is taking place in an atmosphere of discussion, recalling the format of a forum or a business conference. The President is sincerely and honestly answering all questions.
Alexander Lukashenko: We will overcome this crisis
The Belarusian head of state made a number of personnel decisions today and changed a number of heads of Belarusian districts. The changes concern the Vitebsk and Mogilev regions.
Natalia Breus, CTV:Today's nominations are the next link in the chain of big personnel policy in Belarus. On the eve of the new year, almost 50% of the composition of the Government was changed. The President announced that the reshuffle will take place throughout the year. And now it is time to appoint new officials to certain districts of Belarus.
Andrei Kobyakov summarizes operation of Belarusian economy in 2014
No cabinet work but emphasis on material production and export capacity. Questions on which the Belarus Government is currently focused were discussed on January 22 at the meeting of the President with Prime Minister Andrei Kobyakov.
Since the end of 2014, meetings on topical issues, which the economic staff of the country discuss together with the head of state, have become a tradition. And, according to Alexander Lukashenko, this form of work should be preserved.
President Lukashenko says material production, export growth vital for Belarus' economic revival
The Belarus President told the government that cabinet work is now over. The emphasis should be placed on material production and increasing export.
Questions on which the updated government is now working were discussed on January 22 at the meeting of the Belarus President with Prime Minister of Belarus Andrei Kobyakov.
Since the end of 2014, meetings on topical issues, which the economic staff of the country discuss together with the head of state, have become a tradition. And, according to Alexander Lukashenko, this form of work should be preserved.
Alexander Lukashenko does not rule out state support to Geely carmaker
At the meeting of Alexander Lukashenko with premier Andrei Kobyakov on January 22, the officials touched upon the measures to stimulate sales of Geely cars.
The people's car has been produced for several years at the joint Belarusian-Chinese venture. This project has been implemented in Belarus since 2011.
In Borisov, up to 10,000 cars a year will be produced. The cars are popular in Russia and Kazakhstan. And, according to the President, the state may even stimulate sales of these cars if it gives effect to the budget and the state.
Ukraine issue on agenda during World Economic Forum
The World Economic Forum is underway in Davos. The theme of the 45th meeting is "The new global context".
The meeting will focus on a wide range of issues: lack of resources, infrastructure, anti-corruption and the future of the Internet, as well as geopolitical conflicts, in particular, the situation in the east of Ukraine.
Alexander Lukashenko says economic instability is the main danger Belarus faces
The President of Belarus expects from the updated government fresh ideas aiming to balance the economic development and improve people's welfare. At a meeting of the sixth extraordinary session of the House of Representatives on January 15, the President, according to the Constitution, presented the new Prime Minister Andrei Kobyakov.
The lower house of the Belarus Parliament today agreed on the appointment of the head of government.
Alexander Lukashenko sends message to heads of state of Eurasian Economic Union
President Alexander Lukashenko has sent a message to the heads of state of the Eurasian Economic Union. On January 1, Belarus assumed the chairmanship of the Supreme Eurasian Economic Council, the Intergovernmental Council of the Eurasian and the Council of the Eurasian Economic Commission.
The work of the Belarusian side in this period will be aimed at promoting the four fundamental economic freedoms of the Union. Namely: the freedom of movement of goods, services, capital and labor. Belarus advocates for the complete abolition of exceptions and limitations.
Alexander Lukashenko sends draft of decree "On the promotion of employment of citizens" for revision
There should not be social dependency in Belarus. President Alexander Lukashenko on January 13 held a meeting on the draft decree "On the promotion of employment of citizens."
In fact, it is about to make to pay for the social benefit those who do not pay taxes but receives salary illegally or engaged in the informal sector of the economy.
Back in October 2014, the President instructed to develop measures against such citizens. There are about 500,000 of them in Belarus.
Belarusian ruble tied closer to Russian
On January 9, Belarus cancelled a fee individuals had to pay when buying foreign currency. The relevant decision of the National Bank seeks to bring closer rates of purchase and sale of foreign currency in exchange points to the official exchange rate of the Belarusian ruble.
The National Bank resumes the use of the mechanism of pegging the ruble to a basket of foreign currencies. In the structure of the basket, the Russian ruble's share will increase to 40% while the shares of the euro and the U.S. dollar will fall to 30% each.
Belarus ranking 13th European country with lowest salary
According to experts' data, the average salary in Belarus amounted to 426 euros last year. It's 11.5 times less than in Liechtenstein. Citizens of that country received the highest average salary (4896 euros) per month last year.
But it should be noted that the situation in Belarus isn't so deplorable. For example, some of our neighbors - Ukrainians - topped the list of countries with the lowest salaries. In Ukraine the average salary amounted to 178 euros in 2014. It turns out that Belarusians were 2.3 times richer than Ukrainians.
Belarus scraps tax on exchange trade in foreign currency
On January 8, Belarus cancels tax on operations on the stock exchange involving currency purchase. The corresponding decree of the Council of Ministers has been published at the National Internet Portal of Legal Information and has already entered into force.
On December 19, 2014, Belarus had to impose a temporary 30-percent fee for foreign currency purchase by legal entities and individuals. This decision was taken in view of the increased demand for U.S. dollars and euros.
Belarus to pay creditors over $4 bn in 2015
In 2015, Belarus needs to repay more than $4 billion in internal and external public liabilities.
According to Belarusian media, Belarus will need about $3.1 billion to transfer to the repayment and servicing of the external public debt.
Repayment and service of debt formed in connection with the issue of five-year Eurobonds by Belarus in 2010 accounts for the largest volume of foreign currency payments. The country will need almost $1.2 billion for repayments on these obligations.
Argentina interested in buying MAZ trucks
Argentina is interested in trucks of Minsk Automobile Plant (MAZ). Businessmen from the province of Buenos Aires expressed interest to the project for organization of assembly production of trucks of Minsk Automobile Plant during the performances of the Belarusian team MAZ-SPORTavto in the city 25 May (25 de Mayo) on December 31.
The team MAZ-SPORTavtol arrived in Argentina in late December to participate in the international rally raid Dakar-2015.
Belarus to develop three technical regulations for nascent Eurasian Economic Union
The Eurasian Economic Union (EEU) will develop 22 new technical regulations for different types of products in addition to the technical regulations adopted in the framework of the Customs Union.
Belarus will be responsible for the development of two technical regulations, Kazakhstan for three, Russia for 14 and the Eurasian Economic Commission (the EEU government) for three more.
Alexander Lukashenko: Belarus will strive to normalize relations with the West
To preserve peace and order in the country, to ensure economic growth and decent standard of living. Such priorities were outlined by President Alexander Lukashenko on December 30 while introducing the new head of the Presidential Administration of Belarus Alexander Kosinets.
The new official is expected to come up with effective solutions in the field of human resources, in ideological work and work with citizens.
President: I cannot allow another destabilization of Belarus' financial system
On December 30, the President of Belarus presented to the staff the new head of the National Bank giving him a certificate of employment.
Pavel Kallaur is an experienced financier and a candidate of economic sciences.
He worked in the National Bank for 17 years, and during the last four years he led the regional structure of one of the leading commercial banks.
The regulator faces important tasks at present. First, it needs to ensure the stability of the national currency. Belarus has managed to normalize the situation.
Alexander Lukashenko: Money, power and property is key to stability of any state
The Administration of the Belarus President is the political headquarters of the country. Alexander Lukashenko said this on December 30 introducing a new Head of Administration Alexander Kosinets.
The President stressed that Mr Kosinets is a strong and energetic man, and much will depend on him. Work with the staff is an important duty of the Presidential Administration.
Professionalism, dedication and results are the main things for a person in this position, stressed Alexander Lukashenko.
Belarus President says no mass privatization in sight
The President of Belarus demands a good start from the renewed Government from the first days. The Head of State said this on December 29, presenting to the government new Prime Minister Andrei Kobyakov. Mr Lukashenko said he expects the Government will ensure the normal operation of enterprises, increase export and seek new trading partners. Special attention should be paid to the Belarusian consumer market.
Belarus President demands immediate, good start from new government
The President of Belarus demands a good start from the renewed Government from the first days. The head of state said this on December 29, presenting new Prime Minister Andrei Kobyakov. Alexander Lukashenko gave him a service certificate.
In general, by staff rotation, the President wants to strengthen the economic block in the central apparatus.
The Head of State wants the Government to ensure the normal operation of enterprises. The expansion of export and the search for new trading partners remains the main objective.
Belarus parliament to convene for extraordinary session January 15
The Council of the Republic and the House of Representatives, both chambers of the Belarusian parliament, will meet in an extraordinary session on January 15. The relevant decrees were signed by the Belarus President.
The seventh extraordinary session of the upper chamber is convened to consent to the appointment by the President of Belarus of the Chairman of the National Bank as well as to consider other issues.
Andrei Kobyakov nominated new Belarus' prime minister
On December 27, Alexander Lukashenko fulfilled his long-standing promise and almost completely renewed the government. However, a lot of new appointees are in fact familiar faces.
Andrei Kobyakov, former head of the Presidential Administration, was appointed new prime minister.
Governor of the Vitebsk region Alexander Kosinets replaced Mr Kobyakov.
Two well-known bankers returned to power. Head of BPS-Bank Vasily Matyushevsky became first deputy prime minister.
Alexander Lukashenko sees progress in combating Belarusian economy's problems
Problems in the Belarusian economy are being gradually resolved, including recent financial and foreign currency issues, said the Belarus Head of State at a meeting on the country's economic development. On December 26, the government reported on its work to resolve the current problems of the Belarusian economy.
A week ago, a similar government meeting was held. It took a number of decisions to resolve problems with the lack of foreign currency in exchange points and people's expectations of coming devaluation of the Belarusian ruble.
MTZ ordered to 'restore reputation' in China in 2015
Minsk Tractor Works (MTZ) has been tasked to restore reputation in China in early 2015, according to the December 23 resolution of the Belarus Government on increasing capacity and diversification of export.
MTZ is instructed to restore reputation in the Chinese market and conclude a contract to supply tractor sets in 2015, reads the document.
Russia may provide Belarus with financial support in 2015
Today, on December 25, during a telephone conversation, Prime Minister of Belarus Mikhail Myasnikovich and Prime Minister of the Russian Federation Dmitry Medvedev discussed joint projects and options for providing financial support for Belarus, BelTA news agency reports.
The Prime Ministers of the two countries agreed to take concerted action on the functioning of the system of national economies, taking into account the adverse external conditions.
Common financial market in Eurasian Economic Union by 2025?
At the meeting of the Supreme Eurasian Economic Council at the level of Heads of State in Moscow on December 23, the presidents of Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia signed a package of documents aimed at the development of integration and improvement of the activities of the nascent union.
According to the press service of the President of Belarus, services for which a single market within the EEU will take effect already on January 1, 2015, has been determined.
World Bank grants Ukraine $380 million in next tranche of loan
The World Bank has granted Ukraine the next tranche of the loan. The tranche of almost $380 million is designed to help develop Ukraine's energy industry.
Some $50 million are allocated for the creation of a system of green energy. These are primarily solar and wind generators.
Another $2.5 million will be directed to the reform of the Ministry of Energy. The project is part of a program of the World Bank designed to support Ukraine, which was announced in March 2014. The loan is allocated for 18 years.
President: Belarus will not restrict import
Belarus will not restrict import in connection with the difficult situation on the financial and currency markets. This was said by Belarus President Alexander Lukashenko on December 22. The head of state took reports from the president's aides in the Vitebsk and Grodno regions.
The President asked about the situation in the region after the decision of the government and the National Bank to restrict introduce a 30% fee on foreign currency purchases.
Belarus' pharmaceutical market estimated at about $1 billion
The pharmaceutical market in Belarus is now estimated at about one billion U.S. dollars. Half of this money should be earned by Belarusian producers.
Such plans were voiced at the December 19 international pharmaceutical forum held in Minsk.
Development and production of foreign analogues requires huge costs.
To attract investors, Belarus needs to modernize the existing production facilities and create new businesses.
Belarus introduces temporary 30% fee for buying foreign currency
Belarus has introduced a temporary 30-percent fee for those who wish to buy foreign currency. This was reported by the Belarus National Bank on December 19.
This decision is due to the increased demand for foreign money and concerns of both legal and natural persons.
Companies and banks will pay the fee when buying currency at the exchange, while the citizens will be charged a fee for buying currency in banks. These funds will be transferred to the budget.
Belarus President promises economic stabilization in H1 2015
After a visit to the State Committee of Forensic Examinations, Alexander Lukashenko answered questions from the media. The journalists wanted to know about reforms in the judicial system, the upcoming trilateral meeting of the contact group on Ukraine and the problem with restrictions on Belarusian food exports to Russia.
President: Exchange rate of Belarusian ruble depends on people
Increase in export and boosting sales of Belarusian products. These are the main topics of the meeting on economic issues hosted by the Belarus President. In general, the situation in the Russian financial market, the main export market of Belarus, remains unpredictable.
According to the President, Belarus will not rush to devalue its ruble after Russia. The stability in the currency market is the task of the Government and the entire banking system. However, people's behavior plays an important role.
Putin blames sinking Russian ruble on oil and gas prices
The President of Russia considers a sharp decline in world prices for oil and gas the main factors of the fall of the Russian ruble. Vladimir Putin said this in Moscow at the press conference on December 18.
The President acknowledged that the Western sanctions also played their role in the current economic situation. But Putin believes the damage from them has been strongly exaggerated.
Alexander Lukashenko: We're not going to devalue the Belarusian ruble after Russia
Belarus will not follow Russia in devaluing its national currency. This was stated by the Belarus President at a meeting on economic issues. The meeting discussed the situation in the real economy as well as the curbing of unreasonable increases in prices for goods and services in the domestic market.
According to the President, the stability of the currency market is the task of the government and the banking system led by the National Bank.
Belarusian MPs adopt draft budget 2015 in second reading
A draft law on the national budget for 2015 has been adopted by Belarusian MPs in the second reading. Traditionally, the main financial document of the country retains social orientation.
It aims to reduce external debt and increase the salaries of state employees. Other priorities include the financing of individual sectors of the economy, its modernization and increase in export.
Belarus PM calls for ramping up export to non-Customs Union states
Belarus needs to take the most decisive steps to increase export to countries outside the Customs Union. This was stated by the Belarus Government on December 16. The majority of Belarusian goods is sold in the Russian market. The situation with oil prices and the devaluation of the Russian ruble poses a potential economic threat to Belarus' security.
Revenue from sales to Russia have declined by more than $700 million.
However, even against this background, Belarus economy has grown in January-November 2014 by 1.7%.