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President’s decree states new approaches to business liberalization Belarus has set clear grounds for business inspections. This was stated by the Head of the State Control Committee Leonid Anfimov. The country has radically changed the business environment control. Routine inspections of organizations are history. Inspectors will carry out random checks. It means that an enterprise will be inspected only if the risk of law violations is high. Almost four dozen ministries and state bodies jointly...

A.Lukashenko: goal is to improve living standards on basis of higher competitiveness of the economy The state must fulfill its obligations to people, Belarus President said at a government session held to discuss Belarus’ social and economic development. The head of state urged the government not to provide support to inefficient factories. Belarus needs enterprises operating without constant budget injections. Alexander Lukashenko also asked the government to inform him about the measures that...

Belarus spends about 9% of GDP on pensions Pensions and allowances have grown in Belarus. This is due to the 3.6% increase in the subsistence minimum. This figure is revised once a quarter and provides for the growth of minimum labor and social pensions, additional payments to pensioners at 75 plus, supplements to pensions. The amount of benefits has also increased. Since May, labor pensions have increased by an average of 5.5%. The last time pensions were raised in November last year by an average...

Belarus and IMF monitor the economic situation in the region and our country together Experts of the International Monetary Fund are expected to visit Belarus in July. Belarus continues its extensive cooperation with the International Monetary Fund in technical support, both for the National Bank and government bodies, including the Finance Ministry. Together the parties monitor the economic situation in the region and our country. As was stated by the National Bank, the issue of a new IMF loan...

According to IMF, Belarus’ GDP will expand by 2.8% in 2018 The International Monetary Fund improved Belarus’ economic growth forecast. According to the fund, Belarus’ economy will grow by 2.8% in 2018 and by 2.4% in 2019. Earlier, the fund forecasted Belarus’ GDP growth at 0.7% in 2018. According to the IMF, inflation in Belarus will make up 6% in 2018 and 2019.

Tourism, medical services have great potential In January-February 2018 Belarus’ export rose by one third. The session of the Council of Ministers’ Presidium discussed progress in implementing the national program on export support and development until 2020. Belarus increased exports of goods to the EU, Asia and Africa. There is a considerable potential in the export of services. The government urges Belarus’ diplomatic missions to promote tourism, education, medical services. Small business...

Analysts predict economic growth and low inflation in Belarus The largest rating agency S&P confirmed sovereign credit ratings of Belarus at the «B» level. The change forecast is «stable». This assessment reflects analysts' expectations of a reduction in external imbalances (while preserving a conservative fiscal policy), as well as confidence in the government's ability to provide debt refinancing. The Agency noted a number of significant steps in the area of tightening monetary policy and moving...

Belarus and international experts to develop country strategy of direct investments’ attraction Belarus and international experts will develop a country strategy of direct investments’ attraction in Belarus till 2030. The document includes the information about concrete measures, their executors and precise terms. The road map’s project will be prepared in the third quarter of this year. Foreigners invested in the Belarusian economy $9,7 billion.

The head of state urged the government to find new markets for agricultural products Alexander Lukashenko made a working trip to Dzerzhinsky District, Minsk Region. In the center of attention was the issue of building a dairy complex and preparation for spring field work. President of Belarus urged the government to find new markets for agricultural products. Alexander Lukashenko visited the dairy complex Vyazynka, where he saw high-performance technologies with modern equipment, excellent conditions...

Innovations will affect HTP, banking sphere and other spheres of the economy Foreign workers of the Hi-Tech Park are granted a visa-free entrance and stay until 2049. Today, Decree No.8 «On the development of the digital economy» comes into force. The document means another 30 years of tax benefits, the regulation for the blockchain technology and cryptocurrency, as well as some new activities. Today, new professions are emerging – specialists who make unmanned vehicles and create artificial intelligence...