ANNOUNCEMENT 08 May 2013In May 2013, the government of Belarus announced a change to private-sector financial support.
NUMBER OF INTERVENTIONS
The Council of Ministers of the Republic of Belarus (according to Decree 353 of May 8, 2013) has introduced beneficial state support to selected companies producing fish products. In particular, 50 per cent of the interest payments of the loans (provided by Belagroprombank and Belarusbank) to the fish companies listed in the decree will be reimbursed from the 2013 republican budget. The prevailing interest rate, defined as the refinancing rate of the National Bank of Belarus, will be used as a reference to calculate the reimbursements.
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.