Belarus: Mogilevliftmash to start making travelators in 2018

The Mogilev-based lift manufacturer OAO Mogilevliftmash intends to start making travelators in 2018, the company’s Chief Engineer Igor Frolkin declared. A prototype travelator (a moving walkway) has been made in association with Chinese partners. The product has passed electromagnetic compatibility tests in line with the relevant technical regulations on safe machines and equipment. Acceptance and…

Belarus to launch engine assembling in Egypt

Belarus and Egypt have agreed to set up an engine assembly plant. The matter was discussed during a visit of a delegation of Minsk Motor Plant led by Director General Igor Yemelyanovich to Egypt, the Belarusian embassy in Egypt reported. The Belarusian delegation visited the Ministry of Military Production of Egypt, large industrial companies specializing…

Belarus: Belarusbank to hold IPO in 2019

Belarus’ largest bank Belarusbank may arrange an initial public offering (IPO) in 2019, First Deputy Prime Minister of Belarus Vasily Matyushevsky declared on November 29. According to the source, persistent work is in progress to arrange the IPO. “I hope we will be able to carry out the initial public offering in 2019,” said Vasily…

Belarus: new taxes shelved till 2020

Current taxes will not be raised and no new taxes will be introduced in Belarus till 2020. The provisions are stipulated by Ordinance No. 7 “On entrepreneurship development”, which the head of state signed on November 23. The ordinance prohibits raising tax rates and introducing new taxes, fees, and duties till 2020. Commercial entities, which…

Belarus: economy on path of recovery

The recent GDP growth figures point to Belarus’ gradual economic recovery, Director of Alpari Eurasia Alexander Sabodin said during the online conference on November 22. “The transition from the two-year recession to the GDP growth is a sign that the hardest times are behind us,” he said. The expert stated, however, that the country’s economic…

Belarus: EBRD revises 2017 growth forecast

The European Bank for Reconstruction and Development (EBRD) has revised upward the forecast for Belarus’ GDP growth to 1.5% in 2017, according to the Bank’s website. In 2018 the Belarusian economy will expand by 2%. The EBRD also revised Russia’s GDP forecast up to 1.8% in 2017. The bank also revised Russia’s GDP growth forecast…

Belarus: exports to Poland up in January-August 2017

Belarus’ exports to Poland went up by 19% in January-August, Belarus’ Deputy Minister of Foreign Affairs Evgeny Shestakov said at the 5th meeting of the Belarusian-Polish working group on trade and investment on October 25. The working group is part of the Belarus-Polish joint commission on economic cooperation. “According to the Belarusian statistics, the bilateral…

Belarus: Russia’s tomato re-export accusations dismissed as groundless

Accusations made by the Federal Service for Veterinary and Phytosanitary Surveillance of Russia (Rosselkhoznadzor), which believes Belarus re-exports tomatoes, are groundless, Belarusian Agriculture and Food Minister Leonid Zayats declared. The official reminded that the Russian agency already inspected gardens, farms, and storage facilities in Belarus at the beginning of the year. “Tensions were relieved and…

Belarus: GDP to increase by 2020

The Belarusian gross domestic product may go up by 12.1-15% by 2020, Belarus’ Economy Minister Vladimir Zinovsky said. “We have taken up a recovery path. This is not the growth that can be satisfactory for us, but we are gradually moving towards it. Having made a solid foundation in 2017, we are setting more ambitious…

Belarus to harvest less corn

According to the current information of the Ag Ministry, corn was harvested from 24.8 thousand ha as of October 12 (19.1% of the plan). Its crop amounted to 190.1 KMT with an average yield of 7.68 MT/ha. The harvest lags far behind last year. At the same time in 2016, corn was harvested from 44.5…

Belarus to supply electrobuses to Moscow

Belarus has a serious chance of becoming a supplier of electric buses to Moscow, Minister of the Moscow City Government, Head of the Moscow City Foreign Economic and International Relations Department Sergei Cheremin said. “Belarusian companies have supplied transport to Moscow before. We use Belarusian trolleybuses. Belarusian producers have a serious chance of participating in…

Belarus: inflation at 0.3% in September 2017

The consumer price index for goods and services totaled 100.3% in September as against August, the National Statistics Committee of Belarus reported. The consumer price index for goods and services totaled 102.7% in September as against December 2016. The core CPI that excludes certain items that face volatile price movements due to administrative and seasonal…