Minsk said to be disappointed with Eurasian integration
Head of the Council of the Republic Mikhail Myasnikovich said that the integration process within the Eurasian Economic Union was slow, and that by the states with large economies would completely subordinate other EEU members, including Belarus, which would lose her sovereignty. Official Minsk voiced disappointment with the Eurasian integration process, which had not stimulated the Belarusian economy and had not resolved economic imbalances – first of all, had not helped to unload the overstocked warehouses at Belarusian enterprises or prevented from suspension of production. The Belarusian authorities do not want to lose monetary sovereignty and would not introduce the single currency on the Kremlin’s terms in the immediate or distant future. However, the Belarusian authorities may agree to coordinate monetary policy with Moscow in exchange for the lifting of restrictions on Belarusian goods to access the Russian market.
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.