Belarus’ foreign trade deficit totaled $148.7 million in January-June, compared to a $783.1 million surplus in January-June 2015, the National Bank of Belarus said. The overall turnover of commodities and services in foreign trade shrank by 13.6% YoY, to $28.156 billion. Exports of commodities and services dropped by 16.1% YoY, to $14.004 billion, and imports…
DetailsBelarus’ government is considering a bill amending the Tax Code, which suggests that the rates of the excise tax on cigarettes should be raised on January 1, 2017 by 4.1-4.6% for the H1 2017 period (from the H2 2016 level) and on July 1, 2017 by 5.2-5.7% (from the H1 2017 level) for H2 2017.…
DetailsBelarusian oil refineries processed 11.937 million tons of crude in January-June, up by 0.5% YoY, Belneftekhim reported. In H1 Belarusian oil refineries increased output of the AI-95 petrol by 30%, kerosene – by 40%, bitumen – by 43.9%, compound fertilizers – by 52.4%, ethylene polymers – by 3.1%, truck and bus tyres – by 52.4%.…
DetailsLiquefied gas exports to Ukraine by Belarus’ state oil and gas production monopoly Belorusneft edged down by 7.5% YoY in January-May 2016 to $26.776 million, a source in the profile ministry said. Belorusneft runs a special facility, which produces liquefied gas. Belarus increased liquefied gas export to Ukraine by 27.1% in January-May 2016 to 120,400…
DetailsBelarus and India closely cooperate to raise the mutual trade to $1 billion. Ambassador Extraordinary and Plenipotentiary of India to Belarus Pankaj Saxena made the statement during the press conference in anticipation of India Independence Day. The Ambassador said it was feasible to raise Belarus-India trade to $1 billion. In his opinion, there is a…
DetailsIn January-June Belarus reduced the import of goods and services by 11% to $14.15 billion in comparison with the same period last year, the official website of the National Bank of the Republic of Belarus reported. In January-June Belarus’ foreign trade was down by 13.6% YoY, to $28.156 billion. Export totaled $14 billion, down by…
DetailsState support helped the companies affiliated with the Industry Ministry increase output, Belarus’ Prime Minister Andrei Kobyakov said. “Support provided to the companies of the Industry Ministry during this complicated period helped them increase the output by 0.7% over 2015 and 1.4% in January-July 2016. Backlog of inventories was reduced by almost Br2 trillion (non-redenominated)”,…
DetailsBelarus’ revenues from export trade in oil products and potash fertilizers dropped by $1.7 billion in January-May due to low prices, Belarusian Prime Minister Andrei Kobyakov said. Although Belarus increased exports in physical terms, export revenues fell by 1.1% YoY, said Kobyakov. According to him, the only way for Belarus to compensate for missing revenues…
DetailsRepresentatives of Belarus’ business community will be authorized to evaluate the regulatory impact of regulatory acts on business environment, in accordance with a bill prepared by the Economy Ministry of Belarus. Posted on the ministry’s official web site, the document will be forwarded for approving to the head of state. The document says that the…
DetailsIt is planned to decrease tax rates in order to encourage non-cash payments in Azerbaijan, the country’s Deputy Taxes Minister Ilkin Valiyev said. “Encouraging non-cash payments and limiting cash payments will lead to a rise in the number of POS-terminals and to the transparency in the payment of taxes”, said Valiyev. “We have already had…
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