Russia allocated additional loans for Belarus’ economy
Under the agreement, Belarus will receive USD 500 mln for 8 years to construct the nuclear power plant and BelAZ will receive USD 75 mln funding for current operations. These loans are long-term, enabling to reduce the demand for foreign currency in 2014. Budgetary funds, which have already been spent on the NPP construction, will be reimbursed from the loan. The freed budgetary resources may be used to support other economic sectors. The loan’s terms do not envisage any repayments within the next four years. BelAZ and other organizations involved in the construction of the nuclear power plant will be able to reduce their current and overdue debts.
The Labour and the Tax Ministries are considering the possibility to include persons engaged in some economic activity without forming a legal entity in the social security system. When the decree No 337 comes into effect, the number of private entrepreneurs is likely to reduce due to the possibility of reducing the tax burden when switching to a tax payment as an individual. 95% of self-employed, including PE, pay insurance premiums on the basis of the minimum wage. The number of self-employed citizens is expected to increase, the number of insurance contributions to the pension system from PE will decrease, the number of citizens who will pay a fee to finance government spending will decrease by several tens. Self-employed citizens have the alternative not to pay social security fees and save resources for future pensions, which, given the gradual restriction by the state of pension requirements could be a more long-sighted option.