Lukashenko wants to avoid greater share of private sector in economy

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April 22, 2016 19:02

At the official opening of the project “Stadler – Minsk” (a plant to produce electric trains) in Fanipol near Minsk, President Lukashenko used stern wording vis-a-vis the Swiss investor, demanding to ensure performance of some agreements.

These arrangements are informal and include assistance by "Stadler Minsk" in developing Belkommunmash, a state-owned enterprise for producing public electric transport means. The Belarusian government fears that the remaining Soviet-era large state enterprises will lose their importance and that it may lose control over the economy due to the arrival of large investors and the increased share of the private sector in the economy. Meanwhile, the president has no plans to change the existing economic model with the state dominating in the economy, especially ahead of the presidential election in 2015.

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Number of citizens excluded from social security system would be expanded
October 02, 2017 12:24

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.

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