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15 Apr 2020

Presidential decree drafted to support Belarusian economy

Presidential decree drafted to support Belarusian economy
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MINSK, 15 April (BelTA) – A draft presidential decree to support the Belarusian economy is ready, the press service of the State Property Committee of Belarus told BelTA.

The document includes proposals of the State Property Committee, which are designed to support lessees, which operation is most susceptible to the unfavorable influence of the epidemic situation (tourism and transport services, hotels and sanatoriums, public catering, consumer services, and other industries). The proposals have been reconciled with parties concerned.

The draft presidential decree will apply to lessees (borrowers) of the real estate owned by the state and by companies with a state share in excess of 50%.

Among other things the draft presidential decree offers respites for paying the rent for using such real estate (for covering the expenses relating to the upkeep and operation of the real estate) till 30 September 2020. The money can be paid by installment till 31 December 2020.

If lessors (lenders) of real estate decide to give their lessees the option to pay by installment, the lessors (lenders) are encouraged to apply the same approach to paying the land rent, the land tax, and the real estate tax.

As of 1 April the draft presidential decree introduces a moratorium on raising the basic rent amount and rental payments till 30 September 2020 in order to prevent an increase in rental payments due to the growing basic rent amount.

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