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Economy & business

02.11.2016

Belarus registers budget surplus in January-September 2016
Belarus registers budget surplus in January-September 2016 In the first 9 months of 2016, the Belarusian budget was formed with a surplus. In other words, budget revenues exceeded expenditures: plus 900 million, or 1.2% of the GDP. Most of the finance was received by the Social Security Fund as well as from the payment of value added tax.  In turn, the largest expenditures were the financing of social services - education, health, and pensions.

01.11.2016

Christian Friis Bach, UN Under Secretary General, Executive Secretary of UN Economic Commission for Europe
Christian Bach: economic policy of your country creates more opportunities for business The program Week met the main person of the Economic Commission for Europe, Executive Secretary to learn more about the possible projects and why integration is becoming a sign of new times. Mr. Bach, today I’ve seen the announcement of the conference on the ECE official page on social networks. You’ve chosen a photo of Bolshoi Theatre. Have your acquaintance with Belarus started with the Bolshoi Theatre?
Russia makes second reactor for Belarusian NPP
Russia makes second reactor for Belarusian NPP A reactor vessel for the second power unit of the Belarusian nuclear power plant has been sent from Volgodonsk. Transport route passes through a complex logistics scheme. Now the special transport is being shipped on the motorway to the Tsimlyansk reservoir. There will start a river stage of that shipment project. In Novovoronezh, transportation will continue by rail. The reactor vessel for the Belarusian NPP weighs more than 330 tons, its height is 13 meters. Its production cycle was 3 years; experts have carried out all complex of tests.
Mozyr Oil Refinery gets first batch of Azerbaijani oil
Belarus buys Azerbaijani oil to compensate for cut in Russian supplies Mozyr Oil Refinery is going to begin processing a batch of Azerbaijani oil. The first batch has recently arrived at the company. Rail tank cars contain nearly 85,000 tons of raw material. The cargo was initially shipped through Odessa port. By the way, this is not the first time Belarus has used a tanker to purchase oil. In 2010 and 2011, Belarus bought almost 1.5 million tons of Venezuelan and Azerbaijani oil, which was shipped through the oil terminal of the Odessa port.
National Bank of Belarus changes basket of currencies November 1
National Bank of Belarus changes basket of currencies November 1 The National Bank of Belarus changed the structure of the basket of currencies on November 1. Until now, when determining the exchange rate of the Belarusian ruble, the bank took into account the trading volume in dollars, euros and Russian rubles. The regulator has decided to increase the share of the Russian ruble in the basket of currencies to 50% from 40%. The dollar will retain one-third in the basket, while the euro's influence on the exchange rate will be reduced to 20%.

31.10.2016

Chinese veterinarians inspect Belarusian meat packing plants
Chinese veterinarians inspect Belarusian meat packing plants Chinese veterinarians finished the official inspection of Belarusian meat packing factories. The experts were inspecting the Belarusian approach to feeding livestock and the rules of the production of meat and meat products. Chinese specialists favorably evaluated the work of Belarusian colleagues and the level of the veterinary service in Belarus.  
Belarus President visits Qatar October 30
Belarus President visits Qatar October 30 These days, Belarus President Alexander Lukashenko is in the Middle East. He is now in the United Arab Emirates, but early in the morning of October 30, the President held talks with the Sheikh of Qatar. This is one of the richest Arab countries. Here, there is the highest oil production per capita in the world. And each of the 2 million people here is a wealthy man. The country spends petrodollars on social services. In Belarus, Qatari businessmen are involved in a number of projects. Today, this list may become longer.
Trade barriers, absence of common energy markets: Belarus’ President enumerates problems of Eurasian Economic Union development
Belarus’ President enumerates problems of Eurasian Economic Union development Poland is a neighbor and a very important state in Eastern Europe, but it cannot replace Russia and countries of the CIS. Not because it doesn’t have oil and gas, or not only because of that. Russia and countries of the Eurasian Economic Union and the CIS represent the main market for Belarusian goods. Not everything is perfect, there are some problems. Every country protects its own manufacturers. However, it’s time to find a way to compromise and start to understand goals of integration that has been going on for a long time.
“There’s potential for development”: Polish businessmen in Belarus
“There’s potential for development”: Polish businessmen discovering Belarus Relations with Qatar and the United Arab Emirates are precious for Belarus, even though these countries are not so geographically and culturally close to us. The importance of relations with close countries that we have common past with goes without saying. However, sometimes there are some internal strives. Belarus is between Russia and Poland. Relations with Poland haven’t been very easy lately. However, nowadays, official representatives from Warsaw have become frequent guests in Minsk. The business sphere has revived.

28.10.2016

CIS Council of Heads of Government held in Minsk: signed agreements
CIS Council of Heads of Government held in Minsk: signed agreements A meeting of the Council of Heads of Government of the member states of the Commonwealth of Independent States was held at the National Library in Minsk. In total, the agenda included more than 20 draft documents. Almost every second of them has an economic component. Implementation of the provisions of the Free Trade Area Agreement remains the priority for the allies.
Center of Traditional Chinese Medicine to appear in Minsk region
Center of Traditional Chinese Medicine to appear in Minsk region The Minsk region and the Chinese province Zhejiang agreed to build the Center of Traditional Chinese Medicine in the Minsk region. In accordance with the agreement, the Belarusian party and the Chinese party have particular obligations. Thus, the Department of Health of the Minsk Regional Executive Committee will provide the Center of Traditional Chinese Medicine with rooms and necessary equipment. The Chinese party will send its specialists to treat Belarusians and to teach Belarusian doctors.
Economic issues in focus at meeting of CIS Council of Heads of Government in Minsk
Economic issues in focus at meeting of CIS Council of Heads of Government in Minsk October 28 A meeting of the Council of Heads of Government of the member states of the Commonwealth of Independent States is completing at the National Library in Minsk. In total, the agenda included more than 20 draft documents. Almost every second of them has an economic component. Cooperation in the mining and humanitarian sectors, automotive industry and intellectual property market development were among the issues. The allies are still discussing the course of implementation of the provisions of the Free Trade Area Agreement.

27.10.2016

Belarus' National Bank notes growth in BYN deposits
Belarus' National Bank notes growth in BYN deposits The Belarus National Bank notes the increase in the number of deposits in the national currency. We are talking about newly attracted deposits, says the NBRB.  Belarusians have opened more irrevocable deposits in the national currency. Irrevocable deposits cannot be withdrawn until the end of the contract. Their share in the deposit portfolio has increased by 170% since the beginning of 2016. An important factor here is the increased interest rate on such deposits. In irrevocable deposits, it is usually 2-3 points higher.

26.10.2016

Augustow Canal without visas: Tourist information center opens in Grodno
Augustow Canal without visas: Tourist information center opens in Grodno Foreign tourists can come to the Augustow Canal in the Grodno district without visas.  Special road signs inform tourists about that. To visit the tourist-recreational park foreign guests must have only a passport and a document confirming the right to visit this recreational area.
World Bank’s representative: Belarus is one of most rapidly developing countries
World Bank’s representative: Belarus is one of most rapidly developing countries The World Bank noticed a great improvement in the business climate of Belarus. In the list of 190 countries that are most favorable for doing business, Belarus got to the 37th place. Belarus is now close to its partners in the Eurasian Economic Union. Kazakhstan occupies the 35th place, Armenia is on the 38th place, and Russia is on the 40th place. In the rating of the World Bank, Belarus started to participate in 2007. Back then, Belarus occupied the 129th place.
Belarusian fabrics to be exported to Japan
Belarusian fabrics to be exported to Japan Belarusian light industry is entering the market of the land of the rising sun. For the first time Belarusian fabrics will be delivered to Japan. Among other promising areas for exports are the United States, Brazil and Israel. The state light industry enterprise Bellegprom is working to supply products to these countries. In addition, opportunities are open for cooperation with Turkey. By the way, 57% of the production of the domestic garment industry is now exported abroad.  Export in 2016 has increased by 8% compared with the same period of 2015.
Belarus to produce unique protein from transgenic goats' milk
Belarus to produce unique protein from transgenic goats' milk The Academy of Sciences of Belarus on October 26 opened a laboratory for extraction and purification of human lactoferrin from the milk of transgenic goats. The new site will appear in the Institute of Microbiology. Within the framework of a Belarus-Russia Union State program, Belarusian and Russian scientists have for the first time in the world created unique herds of animals. Having introduced a human protein gene into the DNA of goats the scientists got a herd of goats whose milk has more lactoferrin than in women's milk.

25.10.2016

Alexander Lukashenko: Belarus needs to help the poorest people
Belarus President: The poorest people need to be helped in crisis Belarus President Alexander Lukashenko stressed the importance of the development of relations between Belarus and Western Europe making staffing decisions on October 25. They touched upon the diplomatic corps. Denis Sidorenko has been appointed Ambassador Extraordinary and Plenipotentiary of the Federal Republic of Germany. That country takes a constructive and pragmatic approach in the field of political cooperation, and in trade-economic cooperation, which is why it has become one of Belarus' most important partners.
Russian oil supplies to Belarus reduced by over 2 million tons
Belarus diversifying oil purchases to avoid excessive dependence on Russian market Belarus has resumed oil supplies from Azerbaijan. Almost 85,000 tons of the raw material were already unloaded at the port of Odessa. The oil was delivered here by a tanker. Oil is designed for processing at the Mozyr Oil Refinery. Technological equipment of the enterprise allows working with different varieties of oil.  As Belneftekhim oil company explained, it is working out various supply options due to the fact that not enough Russian oil is delivered to Belarusian refineries.
Deputy Prime Minister of Namibia: We expect greater number of agreements in 2017
Deputy Premier of Namibia: We expect greater number of agreements with Belarus in 2017 Belarus is ready to cooperate with Namibia. This republic is located in the south-west of the African continent. To visit it, Belarusians now do not need a visa. Diplomatic relations between the countries were established 15 years ago. For the first time over these years, the Minister of Foreign Affairs of Namibia visited Minsk on October 24. The parties see great potential for cooperation in the field of agriculture, engineering and mining industries. Now they are forming a complete legal base of the bilateral relations.
Belarusian and Polish businesses to expand interregional cooperation
Belarusian and Polish businesses to expand interregional cooperation Expansion of inter-regional cooperation between Belarus and Poland is one of the major topics discussed in Belarus these days. On October 25, a business delegation from Lubuskie Province is arriving in the Gomel region. Business circles of that European country intend to establish contacts with companies of the region.

24.10.2016

Amended law on employment comes into force on October 24 in Belarus
Amended law on employment comes into force on October 24 in Belarus Unemployed people will be obliged to look for a job on their own. Employer will have to tell about job openings during 5 days. On October 24, a new amendment of the law on employment will be introduced in Belarus. The document involves the stricter punishment for breaking the law. The period when a person can be unemployed is two times less. It was reduced from 36 to 18 months.
Belarusian government guarantees quality of pharmaceutical products
Belarusian government guarantees quality of pharmaceutical products Belarusian medicines became the topic of the talk show What’s Going On. Does promotion of domestic medicines have economic character? Is it focused on health, wallet, or commercial competition?
Representative of Belarus’ Ministry of Health on imported medication
Representative of Belarus’ Ministry of Health on imported medication Belarusian medicines became the topic of the talk show What’s Going On.
Why Belarusian medicines need more advertising?
Why Belarusian medicines need more advertising? Belarusian medicines became the topic of the talk show What’s Going On. Dmitry Shevtsov, deputy of the House of Representatives of Belarus, head of Belarusian Doctors' Association: Foreign companies spend a lot of money on advertising, which is very good. Foreign companies spend huge resource to promote a pharmaceutical product and to make doctors aware of its existence. There are a lot of conferences and seminars, where doctors could learn about medicines.
Poland may help Belarus promote Astravyets NPP electricity in EU
Poland may help Belarus promote Astravyets NPP electricity in EU Poland may become a conductor of Belarus to the WTO and promoter of electricity generate by the Astravyets NPP in the European Union. These two topics became central during negotiations of the Polish delegation with representatives of the Belarusian government. With the commissioning of the first unit of the nuclear power plant Poland could use Belarusian electricity or facilitate its transit.
How Mozyr Oil Refinery survived oil and gas conflict
How Mozyr Oil Refinery survived oil and gas conflict The tradition of carrying the Olympic torch originated in ancient Greece and reminded people about Prometheus who got fire and gave it to people. The fire of the Belarusian torch originates from... Gazprom. Gazprom is not Prometheus. It doesn’t just give fire, it sells it, and not at a low price. That’s why Belarus and Russia had an argument. By October 20, Russia wanted to get money from Belarus for gas and for pumping the volumes necessary for Belarusian refineries. Due to reduction in supplies from Russia, the Belarusian pumps weren’t working properly.
Belarus, Poland to increase trade from $2.5bn to $4bn in coming years
Belarus, Poland to increase trade from $2.5bn to $4bn in coming years The level of turnover of Belarus and Poland in the coming years should increase from $2.5 billion to $4bn. There are all prerequisites for this, say participants of the business forum Neighbourhood. It has been held for the 20th time and has gathered 500 representatives of business circles of Belarus and Poland. Already today the sides signed a package of documents on cooperation. Among them is a memorandum on the development of transport infrastructure in Vitebsk.
Belarus proposes Poland to boost economic cooperation
Poland may assist Belarus in WTO accession talks The President of Belarus proposes to raise the bar of trade and economic cooperation with Poland. Alexander Lukashenko said this on October 24 meeting with Deputy Chairman of the Council of Ministers, Minister of Finance and Poland Mateusz Morawiecki. In January-August 2016, the trade turnover between the countries has increased as compared to the same period of 2015.
Deputy Prime Minister of Poland to arrive in Belarus October 24 Minsk and Warsaw are expanding trade connections. On October 24 Belarus will welcome Deputy Prime Minister of Poland Mateusz Morawiecki. He will hold talks with the leadership of Belarus as well as take part in the meeting of the joint commission for economic cooperation. It is expected that the high-ranking guest will visit the annual Belarusian-Polish economic forum Neighbourhood. It will open on October 24 at the National Library and will gather several hundred representatives of leading companies of the two countries.

21.10.2016

Preliminary stage of reconstruction of M6 Minsk–Grodno finished
Preliminary stage of reconstruction of M6 Minsk–Grodno finished The preliminary stage of the reconstruction of the highway M6 Minsk – Grodno is over. At some sections, people get down to a next stage of the reconstruction. For the first time, Belarusian enterprises became contractors after winning the international contest. The highway will have split-level intersections, and reinforced concrete barrier will be installed for the first time in Belarus. This will allow increasing the speed limit for light motor vehicles up to 120 km/h.

20.10.2016

Belarus, Russia discuss Union State budgetary performance
Belarus, Russia discuss Union State budgetary performance Every ruble from the Union State budget should be spent effectively. This is required by the slowdown in economic activity in various sectors. This is the outcome of the meeting of representatives of the State Control Committee of Belarus and the Accounts Chamber of the Russian Federation. On October 20, they discussed by videoconference how the Union State budget is being executed.  The sides noted that the current level of financial control bodies of the two countries is a way to enhance the integration and achieve common goals.
Belarus experiencing renaissance in trade relations with Europe, Vladimir Ulakhovich says
Belarus experiencing renaissance in trade relations with Europe, Vladimir Ulakhovich says Belarus is experiencing a "renaissance" in trade relations with Europe, said today chairman of the Chamber of Commerce and Industry of Belarus. One of the forms that is most attracted to foreign partners is industrial cooperation. It will allow producing more quality products and developing ways to enter new markets. Meanwhile, there are some problems in the field of foreign trade. For example, exceptions and limitations.

19.10.2016

International Forum on Banking Information Technologies opens in Minsk on October 19
International Forum on Banking Information Technologies to open in Minsk on October 19 Reduced circulation of paper documents, introduction of digital technologies in the banking sector, as well as use of the Internet for business will be the key themes of the annual forum that will start in Minsk on 19 October.  The largest banks of Belarus will share with colleagues from the CIS their view of the further development of payment systems. Cash remittances, online purchases, mobile payments and banking cards are technologies with which the majority of Belarusians are already familiar.

18.10.2016

Belarusian NPP to get ecological passport
Belarusian NPP to get ecological passport The Belarusian nuclear power plant will get an ecological passport. Experts from Belarus and Russia have conducted a joint monitoring of the construction of a nuclear power plant in Ostrovets and data that environmentalists got will form the basis of a new document. The entries will be made to help compare data on the environment after the launch of the station. Experts have stressed the openness of Belarus in the provision of information as well as its availability.
Belarus and Tatarstan sign cooperation development plan for 2017-2020
Belarus and Tatarstan sign cooperation development plan for 2017-2020 Cooperation in the field of machine tools may become profitable for Belarus and Tatarstan. This was discussed at a meeting of the Prime Minister of Belarus, Andrei Kobyakov, with Rustam Minnikhanov, who is visiting Belarus. Tatarstan will soon begin a large-scale modernization of the aviation plant and other engineering companies. Therefore, the foreign visitors are determined to cooperate with Belarus in the industry.
Alexander Lukashenko meets with Tatarstan president Rustam Minnikhanov
Alexander Lukashenko meets with Tatarstan president Rustam Minnikhanov Industry, construction and innovation are the areas that should play the main role in economic cooperation between Belarus and Tatarstan, said Alexander Lukashenko October 18 meeting with the head of the republic of Tatarstan Rustam Minnikhanov. In recent years, the bilateral trade has fallen slightly in value terms , in 2015 by a quarter. The sides posted a trade of $878 million. However, the potential for economic cooperation is much higher. And, by the way, the physical volumes of trade continue to show good dynamism.
Tatarstan president visiting Minsk
Tatarstan president visiting Minsk The president of Tatarstan has come to Minsk to discuss the prospects for the development of comprehensive cooperation. High-ranking officials and heads of major regional enterprises have arrived together with the head of the Russian region. Among the plans during the visit are negotiations with the leadership of Belarus and visits to the Park of High Technologies, as well as a number of industrial enterprises.

17.10.2016

Affiliated enterprise of Belarusian potash company opens in Ukraine
Affiliated enterprise of Belarusian potash company opens in Ukraine Affiliated enterprise of the Belarusian potash company has opened on in Ukraine on October 17. The main goal is to expand the presence on the market. A country with a large sector of agricultural sphere is a prospective market for Belarus. This new enterprise will help to reach a new level of cooperation with consumers of mineral fertilizers and to increase the number of shipments. Today, Belarusian potassium is purchased in every second country. The fifth part of the world’s export belongs to the Belarusian potash company.
Oil and gas disagreement between Belarus and Russia: Negotiations and new way of calculating gas prices
Oil and gas disagreement between Belarus and Russia: Negotiations and new way of calculating gas prices Belarus and Russia made a compromise in the argument about oil and gas prices. Parties managed to agree on a mutually beneficial supply and transit of oil and a new mechanism for calculating the gas price. As the Ministry of Energy confirmed, in the coming days they will compensate for the gas that was received but wasn’t paid in full. Russia introduces the mechanism of the so-called inter-budgetary compensation.
Head of Raiffeisen Bank International about cooperation between Belarus and Austria
Head of Raiffeisen Bank International about Belarus-Austria cooperation A week ago, the President raised a very important and controversial economic topic in the Oval Hall. The topic was related to the disagreement between Russia and Belarus on gas prices. Everybody has his own truth, but Moscow conceded in the argument. Thus, the gas price is reduced for Belarus, which is fair enough from the point of view of the Eurasian integration. Nevertheless, the location of Belarus makes us look at different sides. For instance, today, Belarus has the same turnover with the EU as it has with Russia.

16.10.2016

IAEA experts: Belarus is leading nuclear newcomer
IAEA experts: Belarus is leading nuclear newcomer The IAEA experts named Belarus the leading nuclear newcomer. The results of the IAEA mission were published by the UN News Center. Within two weeks the mission has conducted a comprehensive assessment of the regulatory infrastructure in the field of nuclear and radiation safety of Belarus. The experts visited the construction site of the Astravyets NPP and they checked the legal and regulatory framework of nuclear and radiation safety of Belarus.

15.10.2016

Andrei Kobyakov’s working visit: examples of industrial recovery
Andrei Kobyakov’s working visit: examples of industrial recovery The agricultural industry of Belarus is expecting a financial recovery. A number of the President’s decrees include precise measures. Ministries, banks and agricultural enterprises are working hard on that matter. On October 14, the situation in the Gomel district was reviewed on a particular example. The development of joint enterprise Mikhailovskoye-Agro is slowed down because of its old debts. Annually, the enterprise pays back about 1 billion rubles. The terms of the debt payment will be changed after December 1.
IAEA mission about Belarusian nuclear power plant
IAEA mission about Belarusian nuclear power plant The IAEA is satisfied with the positive experience of Belarus during the construction of a nuclear power plant. On October 14, the Integrated Regulatory Review Service (IRRS) team concluded a 2-week mission in Belarus. During that time, the IRRS mission assessed the regulatory framework for nuclear and radiation safety. In addition to the site of the Astravyets NPP, the mission visited the Joint Institute for Power and Nuclear Research Sosny and the National Medical Rehabilitation Hospital.
Meeting with representatives of Guangdong held in Minsk
Meeting with representatives of Guangdong held in Minsk Belarus and China, cooperation between regions. Businessmen from Chinese province Guangdong visited Minsk. The partners met at the trade, economic and tourist conference. Businessmen estimated the possibility of investment in projects of China-Belarus Industrial Park and activation of tourist business of Minsk and Guangdong. About 160 companies from all Minsk regions presented their abilities. The Chinese delegation consisted of representatives of more than 60 enterprises.

14.10.2016

Kurgan region ready to buy 100 units of Belarusian machinery per year
Kurgan region ready to buy 100 units of Belarusian machinery per year Kurgan region of Russia is ready to buy 100 units of Belarusian equipment per year. Farmers from that Russian region are already familiar with Belarusian tractors. There are about 2,500 of them in the tractor fleet of the agricultural region. The Russian guests are also interested in machines for the timber industry, as well as some types of municipal and road-building machinery. On October 13, the delegation visited the enterprise Amkodor and perhaps soon it may sign some new contracts.
IAEA: Belarus strictly adheres to security strategy principles
IAEA: Belarus strictly adheres to security strategy principles Belarus is a country that strictly adheres to the principles of following the security strategy. These are the first findings of the IAEA expert mission. They are completing work in Belarus. Within two weeks they have conducted a comprehensive assessment of the regulatory infrastructure in the field of nuclear and radiation safety. In addition to the site of the Astravyets NPP, the mission visited the Joint Institute for Power and Nuclear Research Sosny and the National Medical Rehabilitation Hospital.
Belarus and EU renew trade dialogue
Belarus and EU renew trade dialogue Belarus and the European Union have resumed the dialogue on trade. On October 13, the Ministry of Foreign Affairs of Belarus hosted the first round of talks. The parties declared their intention to increase the trade turnover. As noted by the head of the EU Delegation in Belarus, it is European companies that are primarily interested in trade with our country. Andrea Victorin emphasized that the conversation took place in a warm atmosphere, and today one can say about the warming of relations between Belarus and the European Union.
Labor pensions in Belarus to increase from December 1, 2016
Labor pensions in Belarus to increase from December 1, 2016 The first day of winter will warm the retired in a special way. Labor pensions are increased in Belarus on December 1. The corresponding decree was signed on October 13 by the President of Belarus. The costs will be financed at the expense of the state extra-budgetary fund of social protection of the people. According to the 2017 budget, labor pensions are going to increase two times. SEE: Salaries in Belarus to grow by 9% in 2017

13.10.2016

Alexander Lukashenko: Belarus ready to cooperate with Kurgan region in all directions
Alexander Lukashenko: Belarus ready to cooperate with Kurgan region in all directions Belarus is ready to cooperate with the Kurgan region in all areas, said the Belarus President meeting with the governor of the Russian region Alexei Kokorin on 13 October. Mutual trade turnover figures are modest: a little more than $20 million. Therefore, there is much space for further cooperation.
Kurgan region governor arrives in Minsk
Kurgan region governor arrives in Minsk Inter-regional cooperation is a step towards the strengthening of Belarusian-Russian relations. The governor of Kurgan region has come to Minsk to discuss the prospects of cooperation, including in trade. Together with the head of the Russian region are high-ranking officials and heads of large enterprises of Kurgan region. The Kurgan delegation is going to hold negotiations with the leadership of Belarus as well as visit a number of industrial enterprises. Kurgan region is an agricultural region. Farmland occupies almost half of its area. Therefore
Belarusian-German working group on trade and investment to meet October 13
Belarusian-German working group on trade and investment to meet October 13 The trade dialogue of Belarus with the European Union continues. October 13 in Minsk, experts of the Belarusian-German working group will consider the issues of bilateral cooperation. In the spotlight will be the matters of investment, export-credit insurance, industrial cooperation, energy, logistics, transportation, and professional education.

12.10.2016

Doctrine of food safety to appear in Belarus
Doctrine of food safety to appear in Belarus The doctrine of food safety will appear in Belarus by the end of 2016. Belarus is successful in providing products for domestic market, and 35% of Belarusian products are exported. However, it’s not the time to relax. There are new challenges appearing in the sphere. That was the topic discussed during the 1st Belarusian Forum on Food Safety that was held on October 12 in Minsk.
Belarus is on 48th place in list of countries with largest gold reserves
Belarus is on 48th place in list of countries with largest gold reserves Belarus entered the list of Top-100 countries with the largest gold reserves. According to the rating compiled by the World Gold Council, we are on the 3rd place among the CIS countries and we hold the 48th place in the world. The sufficient amount of this metal in gold reserves is one of the most important criteria in the evaluation of a country’s economy. This is one of the factors of economic stability and financial security of a state. It should be mentioned that the USA is on the top of the list, and Russia is a leader among the CIS countries.
From food and dresses to metallurgy and IT: Belarus and Austria acquire more common points
From food to IT sector: Belarus and Austria expanding cooperation When one of the strategic partners makes you sad, good words coming from the other side might not only become the medicine for your soul. The practical use is also very important. Following Belarusian dresses and condensed milk, other serious contracts might be signed, as Belarus and Austria are engaged in very successful cooperation. Our special correspondent Yana Shipko has the story.
Russia lifts restrictions on oil supplies to Belarus
Russia lifts restrictions on oil supplies to Belarus Belarus considers agreements with Russia on gas and oil a compromise in the interests of the two countries. On October 11, the Energy Ministry voiced a new formula of gas price calculations for Belarus. It also confirmed that in the next 10 days Belarus will repay the previously underpaid money for blue fuel. Russia, in turn, introduces a mechanism for inter-budgetary compensation for the time when a common electric energy market is being created.
Michael Kent about Belarus: "It's great pleasure for me to be in your country"
Michael Kent about Belarus: "It's great pleasure for me to be in your country" Belarus is waiting for British businesses to come to the country, said the Belarus President meeting a member of the British royal family - Prince Michael of Kent on October 11. The representative of the royal family, a prominent businessman and philanthropist is visiting Belarus for the first time.

11.10.2016

What IMF’ loan is and why Belarus needs it: expert opinion
What IMF loan could mean for Belarus? Belarus holds very important talks with the International Monetary Fund about a new loan program. There’s a possibility to get three billion dollars and the interest rate is beneficial. However, the IMF has very strict requirements, as usual. However, they are negotiating to find a compromise. The idea of ​​creating the International Monetary Fund came at a UN conference in 1944. The member countries have decided to create a common money-box from which anyone can borrow in order to avoid a serious crisis.
XXI Belarusian Energy and Ecology Forum opens in Minsk
XXI Belarusian Energy and Ecology Forum opens in Minsk About 300 companies from 14 countries will gather on October 11 in Minsk for XXI Belarusian Energy and Ecology Forum. Over the next four days, the participants will be getting acquainted with more than 200 scientific and technical developments. Belarusian scientists will also present their best achievements in thematic exhibitions. It is noteworthy that the event involves the banking sector, which will contribute to the financing and implementation of innovative projects. Forum organizers do not hide intentions to sign several deals after the forum.

10.10.2016

Development of economic cooperation and visa regime facilitation: Belarus’ Foreign Minister visits Warsaw
Development of economic cooperation and visa regime facilitation: Belarus’ Foreign Minister visits Warsaw Rapprochement and openness. Principles of cooperation of Belarus and Poland were discussed on October 10 by the foreign ministers of the two countries. A quarter of a century ago a Declaration on Good-neighborliness, mutual recognition and co-operation between the states was signed. Now Belarus and Poland are on the threshold of a new quality of relations.
Service company for biogas units to be created in Belarus
Service company for biogas units to be created in Belarus A company that will provide service for biogas units will be established in Belarus. Such an agreement was made at the Belarus-Germany energy forum on October 10. The forum is held for the 5th time. The topics related to a vast usage of renewable sources of energy are discussed there. Almost 200 experts from two countries are discussing the cooperation in the sphere of environmentally friendly technologies. Belarus and Germany already have a number of joint projects.
Mikhail Kovalev, professor of Belarusian State University on IMF loan for Belarus and role of China in economy
Mikhail Kovalev, professor of Belarusian State University on IMF loan for Belarus and role of China in economy Belarus has had a successful cooperation with the IMF for many years. In 2010, we received a large loan worth 3.5 billion dollars in the framework of the Standby Program. Belarus has already paid its debt. Now, there are discussions about a new loan from the IMF with very good interest. However, should Belarus count so much on the IMF? We asked the opinion of professor Mikhail Kovalev. We hope to get a loan worth 3 billion dollars for 10 years with the interest rate of 2.3% a year. What does it mean?
Belarus and Russia settle oil and gas issues
Belarus and Russia settle oil and gas supply issues Belarus and Russia have settled a problematic issue in the sphere of energy supply. The President of Belarus was briefed on how the oil and gas dispute is being resolved. The cost of gas will be substantially reduced. Currently the sides are signing a working protocol, and in the near future plan to legally register the agreements.
Fifth Belarusian-German Energy Forum kicks off in Minsk October 10
Fifth Belarusian-German Energy Forum kicks off in Minsk October 10 The development of energy policy will be a central theme of the V Belarusian-German Energy Forum. It is about to kick off in Minsk October 10. Experts from the two countries will discuss the issues of renewable energy, implementation of energy efficiency systems in buildings and many others. The participants will also visit Minsk's heat electric generation plant No2 and the substation Kolyadichi. SEE: Belarus-Germany cooperation
Belarus expands geography of insurance: It covers 3% of all export
Belarus expanding insurance services export Why is it profitable to insure contracts with foreign companies and how does it affect the development of export? These questions were discussed during the international conference in Minsk. Lately, there has appeared a tendency to insure contracts in Belarus. The insurance cover contracts with more than 50 countries. Both governmental and private enterprise can make their contracts safe.

09.10.2016

Saint Petersburg interested in Belarusian dairy and meat products
Saint Petersburg interested in Belarusian dairy and meat products Belarus and Saint Petersburg plan to increase their turnover up to 2 billion dollars. On October 7, a number of agreements were signed between Belarus and Saint Petersburg. As it was announced, Saint Petersburg is still interested in Belarusian dairy and meat products, and it plans to purchase the transport produced in Belarus. The construction industry might become a very beneficial sphere of cooperation. It is planned to build Belarus Town in Saint Petersburg and Saint Petersburg Town in Minsk.
Alexander Lukashenko comments on gas problem with Russia
Alexander Lukashenko comments on gas problem with Russia One more disputable economic question that sometimes becomes a political issue was mentioned by President Lukashenko during his speech in the Oval Hall of the Belarusian Parliament. The topic is old for the relations between Russia and Belarus. At the same time, it is a key topic. The words oil and gas mean a lot.

08.10.2016

Alexander Lukashenko about business in Belarus: “We need to provide people with favorable conditions without excessive limitations”
Alexander Lukashenko about business in Belarus: “We need to provide people with favorable conditions without excessive limitations” Restructuring of the economy, the importance of business and cooperation with world’s powers were among the issues discussed by the President in the Oval Hall of the Government House on October 7.  Hard and important work lies ahead of the MPs of the 6th convocation. The most important topics are economy, social sphere, international cooperation and Belarusians’ well-being. The former parliamentarians hand over mandates to new MPs. There are hundreds of draft bills. The MPs of the 6th convocation have even more work ahead of them.
Support of small and medium-sized businesses is national priority, says Belarusian MP of 6th convocation
Support of small and medium-sized businesses is national priority, says Belarusian MP of 6th convocation Restructuring of the economy, the importance of business and cooperation with world’s powers were among the issues discussed by the President in the Oval Hall of the Government House on October 7. Hard and important work lies ahead of the MPs of the 6th convocation. The President underlined that at first, it is necessary to address all the issues in the Oval Hall. The most important topics are economy, social sphere, international cooperation and Belarusians’ well-being.

07.10.2016

Belarus to strengthen responsibility for failure to comply with barrier-free environment requirements
Belarus to strengthen responsibility for failure to comply with barrier-free environment requirements Among the issues considered by the MPs during the last session of the parliament of the 5th convocation are a number of bills in the economic sphere, youth policy, and the Convention on the Rights of Persons with Disabilities. It is expected that its ratification will create additional guarantees for people with disabilities.
Alexander Lukashenko's visit to Pakistan: 15 agreements concluded
Alexander Lukashenko's visit to Pakistan: 15 agreements concluded The Belarus President has ended the official visit to Pakistan. The agreements achieved will become an impetus for the further dynamic development of the relations. Minsk and Islamabad agreed to deepen friendly relations and achieve turnover of a billion dollars in 4 years. The Belarus President's negotiations with the most influential politicians of Pakistan ended almost in the plane.

06.10.2016

Upper chamber of Belarus parliament approves budget for 2017
Upper chamber of Belarus parliament approves budget for 2017 On October 6, Belarusian senators approved the draft budget for 2017. The budget retains social orientation and takes into account Belarus' loan obligations.  The thickness of the 'national purse' will be the same as in 2016, while the consolidated budget will grow by 6%. The tax burden on the economy will fall. The 2017 budget is conservative, while its profitability has been calculated on the basis of oil prices at $35 per barrel.
Alexander Lukashenko demands Belarus-Pakistan trade at $1bn by 2020
Alexander Lukashenko demands Belarus-Pakistan trade at $1bn by 2020 Belarus-Pakistan relations are on the way to $1 billion. The official visit of Alexander Lukashenko to Pakistan is intensifying relations between the two countries. The contracts and their worth speak for themselves. The first-ever delivery of BelAZ, a joint venture for the production of special equipment and a major contract of Belarus' tire manufacturers. In the list of priorities are light industry, interbank cooperation and the implementation of infrastructure projects.
Relations based on mutual trust: official visit of Alexander Lukashenko in Pakistan
Relations based on mutual trust: official visit of Alexander Lukashenko in Pakistan Belarus and Pakistan are going to develop friendly relations on the principles of mutual trust and cooperation. Alexander Lukashenko is on an official visit to Islamabad. The Head of State held talks with Pakistani Prime Minister Nawaz Sharif. One of the agreements is to bring trade turnover to $1 billion a year. Also, Alexander Lukashenko took part in the opening of bilateral business and investment forum.
Salaries in Belarus to increase by 9% in 2017
Salaries in Belarus to increase by 9% in 2017 Belarus' draft budget for 2017 has been adopted. In the second reading, the absolute majority of deputies voted for the draft of the main financial document. It will retain social orientation. One-third part of the budget will be earmarked for state programs: in education - for the development of innovative approaches, while in health care focus will be made on affordability and quality. Payroll fund will increase by 9%, while labor pensions will be increased twice.

05.10.2016

Days of Saint Petersburg to start in Minsk on October 6
Days of Saint Petersburg to start in Minsk on October 6 The Days of Saint Petersburg will start with the business forum that will be held in Minsk on October 6. The business communities of Russia and Belarus will take part in the event. The official delegation is planning to visit a number of enterprises and industrial plants. It is planned to sign a number of agreements on cooperation. After all business meetings are over, there will be a concert of a chamber orchestra from Saint Petersburg near the City Hall.
Priorities of Belarus’ social and economic development for 2017
Priorities of Belarus’ social and economic development for 2017 The main targets of the social and economic development of Belarus for 2017 were established. The President signed the corresponding document. Inflation is one of the key points. It should not be increased by 9% during 12 months. It is expected to receive direct investment worth 1.5 million dollars. The document allows for a positive dynamics in foreign trade. Belarus needs to sell 3.8% more domestic products in 2017. Besides, the President approved principal directions in the monetary policy of Belarus.
Lipetsk region of Russia interested in quality of Belarusian roads, agricultural machinery
Lipetsk region of Russia interested in quality of Belarusian roads, agricultural machinery Belarusians will build roads in Russia. Administration of Lipetsk Region of Russia visited new facilities in Minsk and the Minsk region, in particular the second ring road, and praised the level of work. In addition to roads the parties are interested in the promotion of engineering products. A sales office for sales of Belarus-made machinery is already operating in the Lipetsk region. In general, the bilateral trade turnover increased by 8% since the beginning of 2016 and exceeded $124 million.
Half of budget expenses to be earmarked for social policy in Belarus in 2017
Half of Belarus' budget expenses to be earmarked for social policy in 2017 Representatives of the House of Representatives have adopted the draft budget for 2017 in the second reading. It was approved by a majority vote.  State revenues were approved in the amount of more than BYN18 billion, expenses over BYN16 billion. Over 40% of planned revenues will come from value-added tax.
What is Belarus' main socio-economic development goal for 2017?
What is Belarus' main socio-economic development goal for 2017? Growth of competitiveness of the economy is the main goal for the next year. The President of Belarus signed a decree on the socio-economic development for 2017. Ensuring macroeconomic balance, financial recovery of the real sector companies, the growth of labor productivity, creation of new jobs - these tasks are named the key ones in the document. The GDP in the coming year is projected at 101.7%. On 4 October, the President, in a decree, approved the monetary policy guidelines for 2017. It will maintain continuity and facilitate
Contracts worth several million dollars: Pakistan interested in Belarusian textile and tires
Contracts worth several million dollars: Pakistan interested in Belarusian textile and tires The Belarusian head of state on October 5 will take part in a business forum in Pakistan. Businessmen of the two countries were thoroughly prepared for business negotiations and demonstrate positive dynamics of cooperation. For example, a test batch of Belarusian yarn worth a quarter of a million US dollars made it possible to study and gain a foothold in the textile market, and the overall portfolio of Bellegprom concern's contracts yesterday increased by 3 and a half million.

04.10.2016

Belarus' Bellegprom concern sign $3.5m worth of contracts in Pakistan
Belarus' Bellegprom concern sign $3.5m worth of contracts in Pakistan A Belarusian delegation led by Deputy Prime Minister Vladimir Semashko has already been in Islamabad for a day, ahead of Belarus' President Alexander Lukashenko's state visit. The delegation includes numerous businessmen and heads of ministries. On October 5, the capital of Pakistan will host a business forum. But a number of meetings and successful negotiations have already been held. On October 4 the company Bellegprom signed contracts worth $3.5 million.
11 countries taking part in Belarusian Transport Week
11 countries taking part in Belarusian Transport Week Construction of the second runway at Minsk National Airport is scheduled to be completed by 2018. This was one of the topics of the Belarusian Transport Week, which is underway in Minsk. Logistics, transit and of course mutual interests are in the center of attention in the Belarus capital this week, with some big players coming. Among the exhibitors are Russia, Ukraine, Lithuania, Latvia, Poland, Germany, and China. Taking part in the business forum are 11 countries.
Salary of Belarus' public sector employees to increase by 9% in 2017
Salary of Belarus' public sector employees to increase by 9% in 2017 The parliament of the 5th convocation in Belarus is completing its work, but before handing over the authority the MPs need to adopt and endorse the main financial document of the next year - the budget.
Estonian delegation visiting Minsk: Investment attraction issues in focus
Estonian delegation visiting Minsk: Investment attraction issues in focus Belarusian and Estonian delegations met in Minsk on October 3. A delegation from the Tallinn district of Lasnamäe is on a four-day visit to Minsk. In particular, for Partyzansky distict, this is a new partner in trade and economic and cultural relations. In turn, Estonian colleagues are interested in drawing on Belarusian experience in the industrial sector, inbound medical tourism and cooperation in the sphere of housing and communal services.

03.10.2016

Contracts worth billions of dollars: effect from Belarus’ President visit to China
Contracts worth billions of dollars: effect from Belarus’ President visit to China As much as 11 billion dollars is the effect from the Belarusian President’s visit to China. This is the sum of all real and expected contracts. Mechanical engineering, high technologies, education, agriculture are the spheres that are part of the economic cooperation between Belarus and China.
Belarus’ budget for 2017: project’s income included in budget is higher
Belarus’ budget for 2017: project’s income included in budget is higher The draft budget for 2017 was adapted during the first reading in the Parliament on October 3. The draft budget provides for an increase in health, education and research spending. There will be more funds for the payment of maternity capital. As noted by the MPs, the document is based not on economic assumptions but on the realities of the time. In comparison with 2016, it is expected to have increase of income by 6%. The draft budget provides for an increase in pensions.
Belarus to continue new loan program talks with IMF in the near future
Belarus to continue new loan program talks with IMF in the near future Belarus will continue talks with the IMF on a new loan program in the near future, said chairman of the National Bank of Belarus Pavel Kallaur after the meeting with the President. On October 4, the Belarusian delegation will leave for Washington to take part in the annual meeting of the International Monetary Fund.
Economic prospects Belarus and Moldova: joint business forum opens in Chisinau
Economic prospects Belarus and Moldova: joint business forum opens in Chisinau Economic prospects Belarus and Moldova are being discussed in Chisinau on October 3. A joint business forum has opened there. The Belarusian side was represented by Prime Minister Andrei Kobyakov. Belarus is now among the top ten trade partners of Moldova. And in spite of the difficult situation in the region and the world, the bilateral trade figures are encouraging. For the first half of 2016, the turnover increased almost by 10% and amounted to almost $150 million.
Belarusian parliament considering draft budget for 2017
Belarusian parliament considering draft budget for 2017 The draft budget for 2017 is being considered in the House of Representatives, the lower chamber of the Belarus parliament, on October 3. The ninth session opened today is the final for the MPs of the fifth convocation. The parliamentarians began work on the main financial document in the spring. It was assessed today in the first reading in the Oval Hall. The draft budget provides for an increase in health, education and research spending. There will be more funds for the payment of maternity capital.

02.10.2016

Nuclear power plants in Slovakia and Austria: How and why nuclear stations differ in center of Europe
Nuclear power plants in Slovakia and Austria: How and why nuclear stations differ in center of Europe This topic is delightful for some people, for some people it is very alarming issue. The most powerful source of energy will appear in Belarus soon. It’s clear that we are talking about the Belarusian nuclear power plant. It has been recently presented in Austria. Our special correspondent Yana Shipko visited two power plants with completely different histories.

01.10.2016

Belarus’ President state visit to China: $11 billion is sum of potential contracts
Belarus’ President state visit to China: $11 billion is sum of potential contracts The first economic results of the state visit of Alexander Lukashenko to China have been announced today. About $11 billion is the sum of the contracts that will be implemented. All the documents signed in Beijing are falling into four categories. The documents are related to political, investment, trade and humanitarian sphere.

30.09.2016

Alexander Lukashenko about China-Belarus Industrial Park: Project demonstrates to Europe and whole world growing technological level of China
Alexander Lukashenko about China-Belarus Industrial Park: Project demonstrates growing technological level of China The China-Belarus Industrial Park should become a showpiece project. This was an announcement made by Belarus’ President speaking with students of the Beijing University on September 30. It was said that the Park would be the pearl of the Silk Road. At the same time, it could become an international project, as various companies from different countries are eager to participate in it.
Andrei Kobyakov: New enterprises to ensure three quarters of volume growth by 2020
Andrei Kobyakov: New enterprises to ensure three quarters of volume growth by 2020 Small and medium-sized businesses will provide the Belarusian economy with three quarters of the volume growth. That was an announcement made by Prime Minister Andrei Kobyakov. During his working trip to Minsk region, Andrei Kobyakov studied the growth of regional enterprises, creating of new job places and other issues of public and private partnership.
Agriculture of Belarus: problems and achievements
Agriculture of Belarus: problems and achievements Last week, the Rosselkhoznadzor sanitary watchdog of Russia introduced restrictions on the import of Belarusian products of several enterprises. For many years, aid to agriculture has been one of the main items of the budget's expenditures. The agro-industrial complex of Belarus has received about $40 billion. Food security problem has long been solved in Belarus. Moreover, each year revenues from food exports increase. It is several billion dollars annually. But the flip side of this process is that agricultural enterprises have got accustomed to sitting on state subsidies.
Belarus and Poland to sign five international cross-border cooperation treaties
Belarus and Poland to sign five international cross-border cooperation treaties Belarus and Poland will sign five international treaties in the field of cross-border cooperation. The agreements will be prepared before the end of 2016. These are the results of the XI session of the Belarusian-Polish Intergovernmental Coordination Commission, which took place on September 29 at the Foreign Ministry of Belarus. 
Alexander Lukashenko to visit Beijing University September 30
Alexander Lukashenko to visit Beijing University September 30 The architecture of mutual benefit is based on the foundation of strong friendship. Belarus and China have achieved a high degree of trust in the relations. The visit of President of Belarus to China continues. It is expected that on September 30, Alexander Lukashenko will visit Peking University, where he will meet with the leadership of the university, students and answer their questions.

29.09.2016

EU welcomes Belarus' steps to improve investment climate The European Union welcomes the measures taken by the Belarusian government to improve the investment climate. This was announced on September 29 in Minsk by Head of Unit at the Directorate-General for Neighborhood and Enlargement Negotiations of the European Commission Vassilis Maragos.
Vladimir Amarin: Belarus' cooperation with China is acquiring credit and investment nature
Vladimir Amarin: Belarus' cooperation with China is acquiring credit and investment nature During the current state visit of the Belarus President to China the two nations plan to sign about 30 documents in all areas. On the eve of the arrival of Alexander Lukashenko a Belarusian delegation composed of members of government, heads of ministries and departments, directors of major industrial enterprises arrived in the capital of China. They already have held a number of fruitful meetings and talks with Chinese partners.

28.09.2016

Nuclear safety is Belarus' absolute priority
Nuclear safety is Belarus' absolute priority Belarus presented in Vienna a layout of the Ostrovets NPP, which is currently under construction. Austria is hosting a session of the General Conference of the International Atomic Energy Agency. September 27 was Belarusian day at the forum. Our delegation once again called its nuclear safety priorities. In addition, Belarus invited the IAEA mission, which would provide a comprehensive assessment of the object being built. After that, the Belarusian NPP will conduct the first stress tests.

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