President Lukashenka may form new government of technocrats

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April 22, 2016 19:33

The Belarusian Government has resigned in the view of the newly elected president. Analysts have regarded Kobyakov’s Government as the anti-crisis government formed to overcome difficulties of the pre-election year. Despite the failed forecast of socio-economic development and economic recession, the Kobyakov’s team has managed to preserve monetary and financial stability at an acceptable level. However, bearing in mind the Belarusian authorities’ aspiration for a new loan from the IMF, the new government may be formed from technocrats.

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Number of citizens excluded from social security system would be expanded
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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.