ANNOUNCEMENT 03 Feb 2012In February 2012, the government of Belarus announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Government Decree #113 from 3 February 2012
The Belorussian Government (according to Decree #113 of 3 February 2012) reimburses 50% of the prevailing interest rate (defined to be the refinance rate of the National Bank of Belarus) for the loans which firms in the flax industry have to pay back to Belagroprombank. The reimbursement is financed through the Belarus government budget. The decree is aimed to facilitate the development and modernisation of the flax industry in Belarus.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.