Belarus’s economy is becoming more profitable

April 22, 2016 19:00

In January-August 2014, Belarus’ economy net profit was BYR 35.8 billion, which is 2.9% more than in the same period of 2013.

This became possible thanks to the abolition of the export duty on potash fertilisers, higher proceeds from income tax, improved financial health in some industries, more payments to the budget by the high-performance businesses, higher wages in the chemical industry, oil refining, pipeline transportation and telecommunications. Devaluation in Russia and Ukraine might have a negative impact on the financial results in the economy by late 2014.