Pension qualifications in Belarus to remain limited

December 19, 2016 12:03

The Standing Committee on Labour and Social Affairs of the House of Representatives rejected a proposal to return army service, maternity leave and post-graduate studies as qualifications for a pension accounting in Belarus. Amid the absence of an explicit discontent in society with curtailed pension guarantees, the Belarusian authorities believe public discussions are unnecessary and could boost interest in the topic in society. There were no media reports about spontaneous actions of citizens or mass protests organized by the opposition demanding changes in the government pension policy. Amid the absence of explicit manifestations of discontent, the state will continue to reduce social protection for the population.

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Increase in terms of currency proceeds return may increase number of Belarusian exporters
June 26, 2017 11:43

According to Decree No. 221 of June 23rd, 2017, deadlines for the completion of foreign trade operations have been extended from 90 to 180 days for exports and from 60 to 90 days for imports. Delayed payments entailed a fine up to 2% of the transaction cost for each day of the delay, but could not exceed the total cost of the transaction. Most companies, when working with new counterparties, require a deferred payment for a period of three to six months. Due to the new regulation, violations are likely to reduce in number, so as the fines. Trade enterprises are likely to expand the assortment list due to the supply of new products in small lots, and the assortment list of exported Belarusian goods could expand, too. The new terms for completing foreign trade transactions would enable medium and small companies on the foreign trade market, exporters and importers are likely to grow in number and the geography of export-import operations could expand.