Govt to scale down application of export support instruments

05.10.2018 15:06 / Belarus

MINSK - Belarus’ government has analyzed the use of export support instruments and plans to scale down the area where they can be utilized.

Prime Minister Sergey Rumas made a statement to this effect in Belarus’ parliament on Oct 5 after his appointment was approved by the lower chamber.

In his words, there are two major tools for the government to support Belarus’ export companies: President Lukashenko’s Ordinance #534 of Aug 25, 2006 and #466 of Sep 24, 2009.

Although #466 was introduced as a temporary instrument, the government has been using it permanently.  The field of application of Ordinance #466 will be scaled down. Ordinance #534 (export credits for non-residents and non-resident banks for purchases of Belarusian-made goods) will remain the government’s principal export support channel.

Source: PrimePress

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