ANNOUNCEMENT 20 May 2013In May 2013, the government of Belarus announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Decree 392 of May 20, 2013,
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Agro-industrial Complex of Belarus,
With Decree 392 of May 20, 2013, the Council of Ministers of Belarus authorised the provision of state guarantees to:
Belmelivodhoz and Belagroservice will buy modern machinery and equipment and provide it under leasing contracts to companies of the Belarusian agro-industrial sector.
Companies of the Ministry of Agriculture and Foodstuffs of Belarus produce more than 70% of all goods in the agro-industrial sector; companies of the state-owned Belgospischeprom around 20% and foreign companies and joint ventures around 10%, respectively. Accordingly, it will be mostly local and state or state-owned companies benefiting from the guaranteed leasing contracts.
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.