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Structural reforming of Belarus' economy

10.11.2017

IMF says reforms to double Belarus' economic growth
IMF says reforms can double Belarus' economic growth The IMF has improved the economic outlook for Belarus revising the figures to plus 1% to the previously announced indicator. Thus, by the end of 2017, experts expect the country's GDP to grow by 1.7%, said November 9 head of the mission of the International Monetary Fund for Belarus Peter Dohlman. The Belarusian economy will remain on the trajectory of growth in the future, too, believes the IMF. The indicator for the medium term is projected at 2%.

03.11.2017

New legislation for Belarus' Hi-Tech Park due in 2018
Belarus Hi-Tech Park could open for Google, Facebook and Apple A new decree by the Belarus President should open doors of the Hi-Tech Park (HTP) for software companies and firms of other high-tech profiles - electronics, machine design, medicine and biotechnology, as well as for investment funds (including venture capital), educational projects for IT professionals and foreign organizations (Google, Facebook, Microsoft and Apple), which monetize IT products through advertising and paid subscription.

02.11.2017

Andrea Wiktorin: Belarus should continue reforms
Andrea Wiktorin: Belarus should continue reforms What are the prospects for Belarus' economic development? Participants of Kastryčnicky Ekanamičny Forum in Minsk discussed the business environment, investment climate and globalization on November 2. The event gathers scientists, experts, representatives of business circles and international organizations. The major issue discussed is how to improve the investment attractiveness of Belarus. Eight documents on the liberalization of business have already been signed. Another one, on the High-Tech Park, is on its way. 

28.10.2017

Premier Kobyakov gives interview to Forbes
Premier Kobyakov gives interview to Forbes Belarus is taking active positions at the world media market. Belarus’ Premier Andrei Kobyakov gave an interview to the magazine Forbes, where he spoke about the ways Belarus dealt with two crises (the world crisis of 2008 and the economic recession in Russia in 2014-2016).

23.10.2017

What reforms await housing and utilities in Belarus?
What reforms await housing and utilities in Belarus? Against the backdrop of instability in many regions of the world, our Belarusian problems seem insignificant. Simple things - warmth in the house, cleanliness and order - are considered the hallmarks of the country. Therefore, the President of Belarus deals with this personally.

20.10.2017

Belarus President demands that utility tariffs be affordable
Belarus President demands that utility tariffs be affordable, warns against price hikes Tariffs for housing and communal services should be affordable to people, said the Belarus President today at the republican seminar dedicated to the improvement and development of the housing and communal services sector.

09.10.2017

Alexander Lukashenko signs decree on craftsmanship development
Alexander Lukashenko signs decree on craftsmanship development Even less barriers in development of agroecotourism. The popular business in villages is receiving new possibilities. Now presentations, anniversaries and banquets are allowed to be held at farmsteads. Guest houses can also be built without changing the juridical status of the land. The novelties are introduced by the President’s decree. On October 9, 2017 Alexander Lukashenko signed a document which expands the list of craft activities.

27.09.2017

Key documents on business liberalization presented to Belarus President
Key documents on business liberalization presented to Belarus President Maximum self-regulation with minimal government intervention. Yesterday, Deputy Prime Minister Vasily Matyushevsky presented to Alexander Lukashenko two key documents that are designed to unleash the business initiative.
Decree simplifying public catering and consumer services comes into force in Belarus
Decree simplifying public catering and consumer services comes into force in Belarus It will be more profitable to work in the countryside in Belarus. The decree "On the development of trade, catering and consumer services", signed by the President on Friday, was published on the national legal portal on September 26. So it has already entered into force. From this day, restrictions on alcohol trade are lifted. Now you can sell it not only in shops, regardless of their area, but also in mobile shops. The main condition is to obtain permission from the local authorities, indicating the range, as well as the route of the store on wheels.

26.09.2017

Number of licensed activities in Belarus to be reduced
Number of licensed activities in Belarus to be reduced The Belarus head of state has reviewed a decree that concerns licensing. The number of licensed activities will be reduced. The list will now include only those that are associated with the threat or harm to society, the state, the environment of life or human health. Vasily Matyushevsky, First Deputy Prime Minister of the Republic of Belarus:The head of state asked the question: "Why can licenses be terminated only by a court decision?" And we paid a lot of attention to this. In general, our arguments are as follows:

19.09.2017

President Lukashenko reviews decrees on handicraft activities improvement, agroecotourism development in Belarus
President Lukashenko reviews decrees on handicraft activities improvement, agroecotourism development in Belarus President Lukashenko supported the idea to grant agroecotourism farms rights to provide additional services. On September 19, Alexander Lukashenko considered the draft decrees on improving handicraft activities and developing agroecotourism in Belarus.
Belarus President: We must not lose control in economy
Belarus President: We must not lose control in economy The Belarus President supported the proposal to grant agroecotourism farms rights to provide additional services. On September 19, the head of state reviewed draft decrees aimed at improving handicraft activities and developing agroecotourism in Belarus. In addition, it is proposed to increase the role of the Council for the Development of Entrepreneurship in the regulation of economic relations.

15.09.2017

Taxation and sanitary reforms in Belarus to stimulate business initiative
Tax reforms in Belarus to stimulate business climate expected by October 2017 The business in the countryside will be provided with tax preferences and the list of activities that can be led on the declarative principle will be expanded. Moreover, tax advisers will appear in Belarus.

13.09.2017

Belarus may sign memorandum with EBRD on improving SOE management
Belarus may sign memorandum with EBRD on improving SOE management Perfection of the system of state enterprises management is a pressing issue in Belarus. The draft document on this matter has been approved by the government. The instrument will form the basis for negotiations with the European Bank for Reconstruction and Development. The memorandum is not final: amendments will be made as necessary. The head of the European Bank for Reconstruction and Development is currently visiting Minsk.

18.08.2017

Belarus moving to market pricing in public utilities sector
Belarus moving to market pricing in public utilities sector Tariffs for housing and communal services in Belarus will be indexed in September and in December. On August 17, such information was announced in the Council of the Republic which discussed the development of housing and communal services.

08.08.2017

Belarus President wants to carefully unleash business initiative
Belarus President wants to carefully unleash business initiative The new package of documents liberalizing business climate in Belarus will be finalized by October 1st. The task was set by the Belarusian head of state at the meeting that discussed the situation in the business environment. In general, the President approved the submitted drafts. The documents will need only a small technical revision. As expected, the main document will be Decree on the development of entrepreneurship, where new approaches to doing business in Belarus will be described.
Belarus President holding meeting on entrepreneurship
Belarus President holding meeting on entrepreneurship Conditions should be created in Belarus to allow anyone to start their own business and work. The task was set by the head of state at the meeting that discussed the situation in the business environment.

21.06.2017

How will Belarus liberalize business climate in 2017?
How will Belarus liberalize business climate in 2017? Belarus will further improve business climate in 2017, but make sure that unfair businessmen can be held accountable. To resolve these issues a working group was set in January 2017 up under the leadership of the Head of the Presidential Administration. During half a year, the specialists conducted large-scale work and prepared a package of normative legal acts. Among them is the Decree on the Development of Entrepreneurship and the Elimination of Excessive Requirements for Business.

31.05.2017

Economist Nakipelov: I am not sure that Ukrainian variant would be better for Belarus
Economist Nakipelov: I am not sure that Ukrainian variant would be better for Belarus Alexander Nakipelov, economist and Academician of the Russian Academy of Sciences took part in the TV Program “Simple Questions” with Egor Khrustalev.

28.05.2017

Economist about Belarus’ economic potential
Expert on Belarus’ economic potential Towns will certainly not be left to the mercy of fate. It is vivid from the active work of the high authorities. And it is a Belarusian method to preserve, fix and wait for the possibility to modernize plants, the economy, the political system and the consciousness of people. This is the opinion of Alexander Nakipelov, a famous economist and an Academician of the Russian Academy of Sciences. This is a fragment of his interview from the TV Program “Simple Questions” with Egor Khrustalev.

02.05.2017

President Lukashenko about economic novation
President Lukashenko about economic novation Petrol cards, which can be used not only at petrol stations, will soon be introduced in Belarus. It is convenience for corporate entities in the first place. It is assumed that a driver will be able to pay for using a toll road or for a room in a hotel with the help of such a card.

19.04.2017

Belarus to take part in IMF, WB spring session in Washington
Belarus to take part in IMF, WB spring session in Washington Belarus will participate in the spring session of the International Monetary Fund and the World Bank in Washington, which starts on April 19. The Belarusian delegation includes the heads of the National Bank, the Ministry of Economy, the Ministry of Finance, and the Ministry of Foreign Affairs. It is expected that they will meet with representatives of the international financial organizations and hold negotiations on the conditions for granting financing to Belarus.

18.04.2017

Vladimir Zinovsky about Belarus’ economy performance improvement
Vladimir Zinovsky about Belarus’ economy performance improvement Growth of GDP and labor efficiency, stability in the exchange market. The results of Belarus’ economy work were announced for the first time in three months on April 18, 2017. Belarus’ GDP has grown by 0.3%, in comparison with the same period of the previous year. Belarusian plants showed some progress as well. It is in large part because of the growing external demand. The export of goods alone increased by 19% in the first quarter. All in all Belarusian economy entered the forecast level of the first half-year period.

21.03.2017

Belarus President: Reforms we are offered are not for our people
Belarus President: Reforms we are offered are not for our people The pricing policy, wage growth and employment are the three main areas for Minsk vice mayors designated by the Belarus President. Alexander Lukashenko agreed a number of appointments in Minsk. He expects from the new managers first of all professional approaches and absence of red tape as well as quick solutions to problems of the residents of the capital. Minsk should become an example for the whole Belarus.

17.03.2017

Belarus President meets with IMF mission head Peter Dohlman
Belarus President meets with IMF mission head Peter Dohlman Prospects of cooperation between Belarus and the International Monetary Fund were discussed in Minsk on March 16. Alexander Lukashenko met with the head of the IMF mission in the country by Peter Dohlman. At the moment, consultations continue with this financial organization. Experts point out that the budget for 2017 meets the requirements for the start of the new joint program.

16.03.2017

Belarus may adopt market model of unemployment insurance
Belarus may adopt market model of unemployment insurance The market model of unemployment insurance may be introduced in Belarus. The proposal comes from the Ministry of Labour and Social Security. Thus, people who lose their jobs will be able to count on a high allowance during the first six months. Payouts are supposed to equal 60% of the average salary at the last job the person had.

14.03.2017

Belarus government report on 2016 results to be presented
Belarus government report on 2016 results to be presented The tendencies of Belarusian Economy will be the main subject of the upcoming government’s report. A serious dialogue is planned for the next two weeks, and the preparation for the dialogue was discussed at Belarus President’s meeting on March 14, 2017.

03.03.2017

Belarus' economy minister: Any inspection should anticipate violations
Economy minister: Inspections in Belarus should not stiff companies Minsk hosted the Assembly of Business Circles on March 1. The forum was one of the central events of Belarusian Entrepreneurship Week. Representatives of business and government met at one site. Now one of the main tasks is to give more freedom to private initiative. Work is already under way: for example, trade inspection has been banned from inspections, sanitary rules have been significantly simplified and small businesses will no longer by checked by the Emergency Situations Ministry.

22.02.2017

Belarus Ministry of Economy sets new tasks for 2017
Belarus Ministry of Economy sets new tasks for 2017 Minimization of administrative burden on business and improvement of investment climate. These are the tasks that Belarus Ministry of Economy has set for 2017. As it was stated in the department on the 17th of February 2017, the launch platform for reconstruction and growth has already been created. Programmatic documents for the current five-year plan were adopted in 2016. Export, effective engagement, including the sphere of high-tech manufacturing, should underlie the economic progress.

10.02.2017

Professor Mikhail Kovalev
Belarus economy to survive if we produce more goods and sell them to partner countries only, economist Kovalev says The dean of the Faculty of Economics of the Belarusian State University Mikhail Kovalev gave an interview to Yegor Khrustalev in the TV program Simple Questions. Today our guest is the dean of the Faculty of Economics of the Belarusian State University, Professor Mikhail Kovalev. Thank you very much for the opportunity to talk with you. Of course, I would like to continue the topic of the Big Conversation with the President.

07.12.2016

Bankruptcy insurance security system may appear in Belarus
Bankruptcy insurance security system may appear in Belarus The Belarusian parliament proposes to include insurance against bankruptcy in the Labour Code. Thus, of an enterprise is liquidated the employees can count on dismissal pays. The money will be accumulated in a special account. This initiative was supported by trade unions and Belarus.

22.11.2016

Belarus mulling over salary compensation fund for workers of bankrupt enterprises
Belarus mulling over salary compensation fund for workers of bankrupt enterprises The Federation of Trade Unions of Belarus (FTU) proposes to establish a fund for the compensation of salaries to workers of bankrupt enterprises. The draft plan is going to be adopted in 2018. The Council of the Fund will consider all cases individually and determine the size of cash payments. The FTU believes that the introduction of insurance against loss of earnings would improve the social protection of workers and guarantee payments.

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.

09.10.2016

What worries Belarusians and government: Alexander Lukashenko addresses MPs
What worries Belarusians and President: Alexander Lukashenko addresses MPs The President of Belarus addressed the Parliament when MPs of the 5th convocation were passing their mandates to the 6th convocation. Both chamber of the National Assembly gathered in the Oval Hall. The President had just returned from Uzbekistan and Pakistan. Alexander Lukashenko was full of energy and as usual, without a paper he was talking for two hours about what worries people. He was talking not only about the worries but also about successes. Alexander Lukashenko mentioned the results of his recent overseas visits and Belarus’ achievements.

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.

03.10.2016

Belarus President: People's interests above all when discussing new IMF loan program
Belarus President: People's interests above all when discussing new IMF loan program When discussing a new credit program for Belarus with the International Monetary Fund one shall be primarily based on the interests of the Belarusian people, said October 3 the President of Belarus, Alexander Lukashenko, at a meeting on cooperation with the IMF. As examples the head of state cited the IMF's requirements for state property and on raising tariffs for housing and utilities. Alexander Lukashenko asked about the readiness of the government for such a change and how they can affect ordinary Belarusians.

19.07.2016

Development Bank of Belarus switches to new strategy
Development Bank of Belarus switches to new strategy The Belarus President has instructed the Development Bank of Belarus to actively support small and medium businesses. This was discussed at the July 18 meeting of Belarus President Alexander Lukashenko with the head of this specialized financial institution Sergei Rumas. This feature will be reflected in the new financial strategy of the Bank. It will extend the number of financial products for small and medium business and increase the volume of support for this sector of the economy.

11.07.2016

Mikhail Myasnikovich visits Soligorsk Plant of Technological Equipment
Mikhail Myasnikovich visits Soligorsk Plant of Technological Equipment Financial reanimation or bankruptcy? The future of Soligorsk Technological Equipment Plant was discussed on July 8. The head of the upper house of Belarus' parliament and former prime minister, Mikhail Myasnikovich, visited the company where he got familiar with the situation and met with staff. The plant, which is about 30 years old, specializes in the manufacturing and repairs of equipment for mining and chemical industries. 

21.04.2016

President: 2016 should be decisive in dealing with negative economic trends
Belarus President: 2016 should be decisive in dealing with negative economic trends 2016 should become decisive in combating negative trends in Belarus' economy, said President Alexander Lukashenko today in his State of the Nation Address to the Belarusian people and the National Assembly. The Head of State drew attention to the fact that in the last few years, the pace of development in the economy slowed down a bit. And although this is mainly down to external factors, one needs to work at home to resolve the issues.

30.03.2016

Belarus' Finance Ministry building
Belarus receives $500 million Eurasian loan tranche March 30 $500 million were received March 30 by the national budget of Belarus. The first tranche of the loan of the Eurasian Fund for Stabilization and Development has been allocated to Belarus.  The money will go to the reform program of the government's and the National Bank and will be particularly aimed at the creation of the macroeconomic prerequisites for economic growth and market reforms. Earlier, representatives of the bank said the money will be allocated in 7 tranches during 3 years.

14.03.2016

Belarus President demands clear utility tariffs
Belarus President demands clear utility tariffs Utilities must be made objective and tariffs understandable. Belarus President Alexander Lukashenko demands that the real value of utility services be written in bills so that Belarusians know what exactly they pay for. In late February, the President instructed to review in detail the rates and introduce a new calculation of utility services. And today, the President was presented a draft decree on the tariffs policy. The President requires that all utilities be transparent and understandable to the public.

13.03.2016

Kirill Rudyi, Belarus President's aide
Why do Belarusian companies need depositary receipts? Let's try to explain in simple language what is so revolutionary about the recent presidential decrees. Our guest today is President's Aide Kirill Rudyi. Mr Rudyi, hello. Kirill Rudyi: Hello! Two decrees were signed by the President. They may be little understood by ordinary working people. In particular, the depositary receipts. What is it?
Belarus President: Retirement age should be raised for everyone
Belarus President: Retirement age should be raised for everyone Talented Belarusian actor, People's Artist of Belarus Vladimir Gostyukhin has recently turned 70, but he is still the most popular Belarusian cinema actor. And he is not in a hurry to retire. And we would like to talk to him about retirement, but now he is not in Minsk. Today we will talk to experts with whom we will discuss the pension reform in Belarus. This topic was the subject of consideration at the meeting with the President of the country. Let us watch again the key episodes of that meeting.

22.02.2016

Price increases should first be compensated by rising incomes, Belarus President says
Belarus President dismisses Gaidar-style reform proposals Alexander Lukashenko is angered by the situation with the tariffs for housing and communal services. This was the main topic of the February 22 meeting to discuss taxes and excise policy in 2016. The meeting participants also talked about the growth of prices for food, fuel and public transportation. They also discussed issues of privatization. The President noted that the government's proposals to amend the privatization of state property system cannot be accepted.
Privatization system in Belarus likely to remain unchanged
Privatization system in Belarus to remain unchanged The Belarus President does not see the need for the reorganization of privatization system. Alexander Lukashenko held a meeting on February 22 on the excise and tax policy in 2016.

21.02.2016

Alexander Lukashenko: 'Crisis is in our heads only!'
What are Belarus' main economic objectives for 2016? The Belarus President is going to visit Pakistan in 2016. This is a 200-million market that is very profitable for Belarus. It is a promising destination for exports of Belarusian machinery. And serious steps in this direction were already made in 2015.

18.02.2016

Belarus needs best foreign economic practices combined with Belarusian socio-economic model, economy minister says
Belarus needs to evolve borrowing world's best practices, economy minister says Efficiency and profitability of enterprises, increase in exports and improvement of the investment climate in Belarus was discussed today, February 18, at the expanded board of the Ministry of Economy.  The whole world is going through hard times. In these circumstances, one needs to quickly adapt the economic model to external changes.

16.02.2016

Belarus President dismisses structural economic reform proposals
Belarus President pleased with EU's lifting of sanctions Decisions taken to improve the efficiency of the economy should not have a negative impact on the social sphere in Belarus. Important issues of the socio-economic complex were discussed on February 16 at the Palace of Independence. Taking part in the meeting hosted by the Belarus President were representatives of the Government, the Presidential Administration, the National Bank, the regional leaders and chairmen of corporations.
No departure from political and economic course, Alexander Lukashenko says
No departure from political and economic course, Alexander Lukashenko says Decisions taken to improve the efficiency of the economy should not have a negative impact on the social sphere in Belarus. Important issues of the socio-economic complex were discussed on February 16 at the Palace of Independence. Taking part in the meeting hosted by the Belarus President were representatives of the Government, the Presidential Administration, the National Bank, the regional leaders and chairmen of corporations.