ANNOUNCEMENT 28 Dec 2012In December 2012, the government of Belarus announced a change to private-sector financial support.
NUMBER OF INTERVENTIONS
Decree 1225 of December 28, 2012,
The Council of Ministers of the Republic of Belarus (according to Decree 1225 of December 28, 2012) has introduced more beneficial state support to selected Belarusian companies in the agricultural sector.
Concretely, Decree 116 of February 4, 2012 is adjusted with a clause stating that interest payments of domestic currency denominated loans of the companies are to be partially reimbursed at 50% of the prevailing interest rate (defined as the refinancing rate of the National Bank of Belarus) on the due date of the respective interest payments.
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.