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Belarusian economy support plan approved

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MINSK, 7 April (BelTA) - The Belarusian government has approved the country's economy support plan. The corresponding document was signed by the prime minister, BelTA has learned.

The plan envisages support for exports and expansion of lending to exporters regardless of the target market for Belarusian products; reduction of customs duties for imported goods required for export production; possibility of restructuring debts and payment of penalties on customs payments; building new transport and logistics chains to redirect exports.

Under the document, Belarus will be working with Russian counterparts to increase quotas and eventually abolish the permit system for cargo transportation and cabotage for Belarusian road carriers; to set up joint import-substituting productions with the Russian Federation; to provide additional financial support for small and medium-sized enterprises that will make new products in Belarus and Russia; to exempt businesses from administrative liability based on inspections for first-time and unintentional violations.

The plan provides for granting organizations the right to receive subsidies from the Social Protection Fund for additional payments to employees, state targeted social assistance to certain categories of citizens in the form of a monthly social benefit based on three-month income; the possibility of providing HTP residents with available benefits and preferences, similar to measures taken in Russia, including the right to defer conscription. Monetary incomes, pensions, and benefits will be indexed to the rate of inflation.

Local measures are also envisaged to support industry, construction, agriculture, transport and tourism.

This comprehensive plan will support organizations of the real-sector economy and their personnel, ensure the fulfillment of current obligations by enterprises, save people’s jobs and income.

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