Business news

Belarus reduces export duties on oil, oil products
The export duty on crude oil went from $66.9 down to $52 per tonne...

Belarusian government curbs price growth to 0.5% per month
A price increase beyond the specified limit can be authorized by the commission for the state regulation of pricing under the Council of Ministers...

Belarus’ Finance Ministry sells $160m worth of government bonds in Q1 2020
All government bonds were sold via the trade system of OAO Belarusian Currency and Stock Exchange...

Belarus’ light industry suggests revision of market rules due to COVID-19 outbreak
"If in this situation we will treat our own market as we have treated it before, including in terms of second-hand, counterfeit goods, it will probably be very difficult for many conscientious manufacturers in the period of reduced demand"...

Specialists comment on import supplies to Belarus amid pandemic
"There are certain disruptions in the supply, which, in our opinion, is also due to objective factors. We cannot say that there is no raw material at all or it does not come the country"...

Belarusian steel mill BMZ export at $1.16bn in 2019
BMZ products were shipped to 65 countries. The top destinations were countries of the European Union, Russia, and Africa...

Call to better use innovative funds in Belarus
"Since the government program on innovative development for the next five-year term has to be worked out this year, today we have to focus on the tasks we need to accomplish in order to make the program’s execution more effective"...

Collection of secondary raw materials in Belarus up 7.1% in 2019
In 2019, the country collected 765,000 tonnes of secondary raw materials...

Belarus' budget surplus at Br0.4bn in January-February 2020
Revenues of the central state budget totaled Br3.5 billion, or 14.2% of the revised annual target...

Belarus' external state debt down 1.6% to $16.9bn in January-February 2020
In January-February 2020, Belarus spent $376.2 million to repay the external state debt, including $196.7 million to the Russian government, $167.7 million to Chinese banks, and $11.8 million to the IBRD...

Belarusian oil refineries to get 1-2m tonnes of oil in April
"The task for April is 2 million tonnes, or at least 1 million tonnes. Oil supplies through the ports in Odessa and Klaipeda will continue. We continue talks with Russia and also in other directions"...

Working group to draft Belarus' social, economic development program for 2021-2025
The ministerial working group will compile a forecast for the country’s social and economic development for 2021 and the planning period, and also coordinate the work of government bodies and organizations in drafting the program...

Belarus, IMF in negotiations on funding in response to global economy deterioration
The sides are discussing the use of the IMF’s Rapid Financing Instrument. The instrument is designed to help IMF member states by supporting the measures the authorities implement to overcome situations that require urgent actions...

Belarus to work out action plan to boost export of woodworking products to EU
"The best export is the one that is based on one’s own raw materials. Belarus has enough of its own raw materials"...

Belarus to improve livestock, animal product traceability system
The bill proposes to expand the list of animals subject to identification, registration, and traceability in the national information system...

Belarusian banks ready to consider repayment holidays for individuals
Previously the National Bank of the Republic of Belarus encouraged commercial banks to consider giving repayment holidays to natural persons. The holidays can be granted if confirmation documents are available...

Belarus president warns private companies against laying off employees
"I want every private company owner to hear this: if a company, a small one or a large one, sacks people (it is impossible in state-run enterprises because we stay on top of it), it is unlikely the company will continue to exist in Belarus"...

Enterprise in FEZ Vitebsk to make individual protective gear
The enterprise will primarily make products of its own design out of fiberglass and impact-resistant plastic, including crash helmets, hardhats for various industries, knee and elbow protectors for active recreation fans, and special-purpose products...

Belarus government to consider hotel construction preferences for investors
The authorities will also look into creating territories with a special legal regime similarly to that of the tourism and recreation park Augustow Canal...

Belgips to rent board mill in Pukhovichi for Tetra Pak processing
According to experts, Tetra Pak packaging accounts for some 9,000-13,000 tonnes in the solid municipal waste per year. Half of it will be processed in Pukhovichi...