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July 29, 2020
Belarus raises average per capita subsistence budget by 3.78% to Br256.1 Aug 1, 2020
MINSK, Jul 29 – PrimePress. The average per capita subsistence budget in Belarus for the period increased from August 1 to October 31, 2020 by 3.78% to Br256.1 ($106.25 at the rate of the National Bank of Belarus), as per resolution No.67 of the Ministry of Labour and Social Protection of Belarus of July 22, 2020, the ministry reports.
The subsistence budget for the working-age population increased by 3.47% to Br285.04 ($118.26 1); pensioners – 3.57% to Br193.92 ($80.455); university students – 3.97% to Br246.72 ($102.36); children under the age of three – 1.16% to Br160.79 ($66.71); children aged three to six – 3.15% to Br224.7 ($93.22); children aged six to 18 – 3.5% to Br274.48 ($113.88 dollars).
Wage premiums and allowances of the social protection system and some welfare payments based on the size of the subsistence budget will automatically increase by 3.78% from August 1. This applies to welfare payments to families with children, social pensions, extra payments to pensioners aged 75 and over, allowances for care of persons assigned to the 1st disability group, persons who have attained 80 years of age, and allowances and pensions for some categories of pensioners.
Resolution No.68 of the Ministry of Labour of July 22, 2020 sets the minimum consumer budgets in average prices of June 2020 per month from August 1 to October 31, 2020.
The standard for the working-age population increased by 1.63% to Br522.13 ($216.62); pensioners – 1.54% to Br404.52 ($167.83); children under the age of three – 1.25% to Br344.25 ($142.82); children aged three to six – 2.91% to Br447.3 ($185.58); children aged six to eighteen – 1.7% to Br449.28 ($186.4); a family of four – 1.74% to Br413.1 ($171.39) per each family member; a young family of three – 2.08% to Br446.97 ($185.44). End (Br2.4103/$1)
Belarus to allocate Br740.9m to finance 12 research programs in 2021-2025 – decree
MINSK, Jul 29 – PrimePress. The government of Belarus will allocate Br740.9 million ($307.389 million at the rate of the National Bank of Belarus) from the republican budget to finance 12 state-sponsored research programs in 2021-2025 as part of the spending on scientific, technical and innovative activities. The list of the programs is approved by government decree No.438 of July 27, 2020 posted on the National Legal Internet Portal on July 29.
The amounts per year will be specified during the drafting of the republican budget for every year to come. The National Academy of Sciences of Belarus is tasked to raise 15% of funds from extra-budgetary sources to finance the programs on the list.
The government plans Br125.5 million ($52.068 million) for Agricultural Technologies and Food Security program for information systems designed to preserve soil fertility, biological plant protection agents, new genetic and biotechnological methods of breeding, technologies for producing and processing foods, including using 3D technologies and electromembrane technologies.
Br98.8 million ($40.99 million) will be provided to the Material Engineering, New Materials and Technologies program to produce new materials, including nanomaterials and nanostructures, and products and devices based on them.
Br72.9 million ($30.245 million) will go to the Society and Humanitarian Security of Belarus program aimed at assessing the national socio-economic, socio-political and socio-cultural capacity and risks to the digitalization of the country in line with the IT country building policy.
The Natural Resources and Environment program will receive Br60.45 million ($25.079 million) to study human environment development patterns and workout guidelines for the sustainable use of biological resources and new methods to rehabilitate disturbed ecosystems.
The Translational Medicine program will be financed in the amount of Br59.99 million ($24.889 million) to create high-tech innovative products (technologies) for public health and new medical technologies for professional sports.
Br58.35 million ($24.208 million) is planned for the Photonics and Electronics for Innovation program to create an intellectual product containing theoretical and experimental foundations for next-generation laser-optical and optoelectronic devices, micro-, opto- and microwave-electronic components with improved technical and operational characteristics for industry, biomedicine, agriculture, ecology, and metrology.
The Energy and Nuclear Processes and Technologies program will receive Br58.3 million ($24.187 million) for creating applied science-intensive technologies and research in the field of thermal physics, physics of combustion and explosion, chemical physics, mechanics of liquids, gas and plasma in complex systems, media and substances, power plants and heat exchangers, and nuclear physics (including for the efficient operation of the Belarusian nuclear power plant).
Br50.4 million ($20.91 million) will be allocated to the Chemical Processes, Reagents and Technologies, Bio-Regulators and Bioorganic Chemistry program. The goal is to obtain new materials, reagents, organic substances and bioactive compounds.
The Mechanics, Metallurgy and Diagnostics in Mechanical Engineering program will receive Br50.05 million ($20.765 million) to master new technologies in machine designing and metallurgy, including new technologies for casting and processing of metals and alloys.
Br39.16 million ($16.246 million) is planned for the Convergence-2025 program aimed at gaining new world-class knowledge in the main sections of modern mathematics and natural sciences, and at interdisciplinary research.
The Digital and Space Technologies, Human, Society and State Security program will be allocated Br36.76 million ($15.251 million) to obtain world-class results in the areas of digital transformation of the economy, social sector and public administration, robotics and artificial intelligence, and the application of digital technologies in space research.
The Biotechnology-2 program will be funded in the amount of Br30.16 million ($12.512 million). The goal is to acquire new scientific knowledge in genomics, metagenomics, proteomics, metabolomics, cell biology, biophysics, immunology and microbiology. It is planned to select and design microbial strains–super-producers of biologically active metabolites and recombinant proteins. End (Br2.4103/$1)
Belarus’ insurance cos collect Br737.7m in premiums in Jan-Jun 2020, up 6.9%/yr
MINSK, Jul 29 – PrimePress. Belarusian insurance companies increased collection of direct and co-insurance premiums by 6.9% on the year in January-June 2020 to 737.7 million Belarusian rubles (Br) ($306,061 million at the NBB rate), the Belarusian Finance Ministry said in a release.
The total value of mandatory insurance policies sold in Jan-Jun 2020 stands at Br264.9 million ($109.903m), up 2.9% on the year.
The total value of voluntary insurance policies sold in Jan-Jun 2020 stands at Br472.8 million ($196.158 million), up 8.4% on the year.
Voluntary insurance accounts for 64.1% of total revenues in Jan-Jun 2020 (62.7% in Jan-Jun 2019).
Belarusian insurers paid out Br383.1 million ($158.942 million) in compensations in Jan-Jun 2020, up 12.9% year on year.
The compensation to premium ratio reached 51.9% in Jan-Jun 2020, compared with 48.4% in Jan-Jun 2019. State-owned insurance companies Belgosstrakh and Beleximgarant account for 54% of the total value of compensation payments.
As of Jun 1, 2020, there were 16 insurers in Belarus. The average number of full-time employees of insurance companies in Belarus stood at 8,841 as of Jul 1, 2020 compared with 8,754 as of Jul 1, 2019. End (Br2.4103/$1)
Belarusbank’s profit down 37.8% in Jan-Jun 2020 to Br110.813m
MINSK, Jul 29 – PrimePress. ASB Belarusbank OJSC reports a 37.8% year-on-year decrease in its profit in January-June 2020 to Br110.813 million ($46 million at the rate of the National Bank of Belarus), says the National Bank of Belarus (NBB).
Belarusbank increased its net interest income in Jan-Jun 2020 by 3.5% year on year to Br624.361 million ($259 million). The net fee and commission income was up 8.4% to Br167.662 million ($69.6m); net income from operations with foreign exchange – up 120% to Br104.294 million ($43.3m); net income from operations with securities – down 4.7% to Br1.113 million ($461,800).
Belarusbank’s total assets increased in Jan-Jun 2020 by 11.9% yoy to Br33.771 billion ($14bn). Loans to customers increased by 14.8% to Br23.644 billion ($9.8bn); assets in securities – up 8.4% to Br3.913 billion ($1.6bn); funds in other banks – up 3.1% to Br3.085 billion ($1.3bn); funds in the National Bank of Belarus – down 0.7% to Br1.86 billion ($771.7m).
Belarusbank’s liabilities increased in Jan-Jun 2020 by 13.7% year on year to Br29.536 billion ($12.25 billion), including customers’ funds in the bank – up 10.7% to Br21.675 billion ($9bn); banks’ funds – up 35.6% to Br6.139 billion ($2.6bn); funds of the National Bank of Belarus – up 130% to Br147.7 million ($61.3m).
Belarusbank increased its equity capital in Jan-Jun 2020 by 0.4% year on year to Br4.235 billion ($1.757bn); authorized capital – up 0.02% to Br2.663 billion ($1.1bn).
Belarusbank, Belarus’ largest bank, was founded in July 1991, and was transformed in October 1995 through a merger with Sberbank of Belarus. The state holds the 98.761% share in the authorized capital of the bank. End (Br2.4103/$1)
Belarus Development Bank reports 31% decrease in net profit in Jan-Jun 2020 to Br73.305m
MINSK, Jul 29 – PrimePress. The Development Bank of the Republic of Belarus OJSC reduced its net profit in January-June 2020 by 31% year on year to Br73.305 million ($30.4 million at the exchange rate of the National Bank of Belarus), says the National Bank of Belarus (NBB)
The Development Bank reduced the net interest income in Jan-Jun 2020 by 10.6% yoy to Br152.532 million ($63.3 million). The net fees and commission fell by 37.6% to minus Br4.303 million ($1.8 million); net income from foreign exchange transactions was up 37.6% to minus Br27.579 million ($11.4 million dollars) from minus Br1.131 million ($469,200); net income from operations with securities – down to minus Br8.038 million ($3.3 million) from Br152,000 ($63,100).
The total assets of the Development Bank increased in January-June 2020 by 11% year on year to Br10.316 billion ($4.3 billion). The bank increased lending to customers by 18.8% to Br5.488 billion ($2.3 billion); reduced assets in securities by 0.2% to Br3.049 million ($1.3 million); reduced funds in other banks by 0.1% to Br837.387 million ($347.4 million); increased funds in the National Bank of Belarus by 770% to Br58.949 million ($24.5 million).
The Development Bank increased its liabilities in Jan-Jun 2020 by 13% yoy to Br7.962 billion ($3.3bn). Customers’ deposits decreased by 3.5% to Br1.239 billion ($514m); banks’ funds –up 23.4% to Br2.984 billion ($1.2b). There were no funds of the National Bank of Belarus.
The Development Bank increased its equity capital in Jan-Jun 2020 by 4.9% yoy to Br2.354 billion ($976.6 million), authorized capital – up 21.9% to Br1.83 billion ($759.2 million).
The Development Bank of the Republic of Belarus was established in 2011 by presidential decree No.261 of June 21, 2011 to increase the efficiency of projects included in government programs, reduce the time of their implementation and cost recovery. It finances government programs on its own behalf and at its own expense on terms of urgency, payment and repayment. The state holds 96.224% in the bank’s statutory capital. End (Br2.4103/$1)
Wednesday forex session: ruble down 0.32% against dollar to Br2.4180/$1
MINSK, Jul 29 – PrimePress. Following the bidding at the single forex session of the Belarusian Currency and Stock Exchange (BCSE) in the format of a continuous two-way auction, the Belarusian ruble stood at Br2.4180/$1 to the dollar on Jul 29, down 0.32% on the previous day of trading, says the BCSE official report.
Following the bidding at the single forex session on Wednesday, the ruble stood at Br2.8413/€1 to the euro, down 0.15%; at Br3.3462/RUB100 to the Russian ruble, up 0.36%.
As previously reported, the National Bank of Belarus (NBB) on June 1, 2015 stopped the practice of fixing the exchange rate of the Belarusian ruble to the basket of foreign currencies on a day-to-day basis and switched over to FX trading on the Belarusian Currency and Stock Exchange (BCSE) in the format of a continuous two-way auction.
The parties taking part in continuous two-way auctions at the BCSE are free to make bids and offers during the entire auction period, however deals will be made if the FX trading system bridges bids with relevant offers.
The weighted average rate of the US dollar, the euro and the Russian ruble shall be the National Bank’s official exchange rate of the relevant currency for the day that follows the day of trading.
At the moment, the exchange rate of the Belarusian ruble is pegged to the basket of foreign currencies, with the share of the Russian ruble standing at 50%, the US dollar – 30%, the euro – 20%. End
Belarus’ telecom cos’ net profit down 17.1% in Jan-May 2020 to Br285m
MINSK, Jul 29 – PrimePress. Belarusian telecom companies’ net profit decreased by 17.1% year on year in Jan-May 2020 to Br285 million ($118.2 million at the rate of the National Bank of Belarus), the National Statistics Committee of Belarus (Belstat) said in a report.
The export of telecom services decreased by 17.4% year on year in Jan-May 2020 to $72.3 million; the import was down 12.5% to $55.3 million.
Telecom companies’ margins on sales of products, works and services were down to 34.8% in Jan-May 2020 to compare with 35.5% in Jan-May 2019.
Tariffs for postal services rendered to legal entities and individual entrepreneurs increased in Jan-May 2020 by 6% year on year; long-distance telephone services – by 5.2%; local telephone services – same as in 2019. Tariffs for cellular telecommunication services increased 3.9%. End
Belarus’ cargo transportation volume down 8.8% in 1H20 to 186.559m tonnes
MINSK, Jul 29 – PrimePress. Belarus’ volume of cargo transportation by all types of transport decreased in January-Jun 2020 by 8.8% year on year to 186,559 million tonnes, Belarus’ National Statistics Committee (Belstat) said in a statistical report.
Transportation by rail in Jan-Jun 2020 totalled 58.626 million tonnes, down 18.6% year on year. The transit freight traffic amounted to 12.8 million tonnes, down 38%. Crude oil and oil products, construction cargoes, chemical and mineral fertilizers, and timber cargoes prevailed in transportation by rail.
Transportation of goods by road decreased in Jan-Jun 2020 by 1.7% to 74.512 million tonnes; through pipelines – down 6.2% to 52.288 million tonnes; by air – up 6.2% to 13,500 tonnes.
The export of transportation services in freight terms in Jan-Jun 2020 amounted to $1.222 billion, down 7.2% year on year; import – $563.9 billion, down 9.1%. End
Belarus’ liquor output up 2% in Jan-Jun 2020 to 6.369m dal
MINSK, Jul 29 – PrimePress. Belarus increased output of vodka and hard liquor by 2% year on year in January-June 2020 to 3.016 million decaliters (dal), Belarus’ National Statistics Committee (Belstat) said in a report.
In June 2020, output of vodka and hard liquor totalled 1.098 million dal (up 0.8% year on year, down 3.4% month on month).
Output of fermented alcoholic beverages decreased by 14.9% year on year in Jan-Jun 2020 to 2.402 million dal. In June alone, output stood at 395,000 dal (down 21.8% against June 2019, down 8.4% against May 2020).
Output of grape wine decreased by 8.8% to 1.507 million dal. In June alone, output stood at 275,000 dal (up 2.2% year on year, up 6.6% month on month).
Output of sparkling wines in Jan-Jun 2020 increased 22.6% to 889,000 dal, including 163,000 dal in Jun (up 21.6% yoy, up 15.6% from May 2020). Brandy output was up 12.6% in Jan-Jun 2020 to 205,000 dal, including 32,000 dal in Jun (down 17.9% yoy, up 33.3% from May 2020).
Inventories of vodka and hard liquor amounted to 1.015 million dal as of July 1, 2020 (95.6% of average monthly output), brandy – 38,000 dal (111.2%), sparkling wines – 289,000 dal (195.1%), grape wines – 313,000 dal (136.9%), fermented alcoholic beverages – 333,000 dal (83.7%).
Inventories of fermented alcoholic beverages decreased by 18.6% yoy as of July 1, 2020, vodka and hard liquor – down 0.1%, brandy – down 5%, grape wines – up 0.3%, sparkling wines – up 9.9%.
Sales of alcoholic beverages and beer totalled Br2 billion ($837.295 million at the rate of the National Bank of Belarus) in Jan-Jun 2020 (8.5% of the retail turnover). In terms of absolute alcohol, sales of alcoholic beverages and beer increased in Jan-Jun 2020 by 2.6% year on year.
In terms of absolute alcohol, the share of vodka in total sales of alcoholic beverages decreased in Jan-Jun 2020 by 0.4 percentage points year on year to 46.5%; the share of liqueurs and spirits made up 6.3% (up 0.2 pp), grape wines – 7.4% (up 0.1 pp).
The share of fruit wines decreased by 1 percentage point to 10.6%, brandy – up 0.6 pp to 4.1%, sparkling wines – up 0.1 pp to 2.4%, low-alcohol beverages – up 0.2 pp to 1.3%.
In physical terms, sales of vodka increased 3.3% to 2.116 million dal, liqueurs and spirits – up 9.7% to 390,600 dal, grape wines – up 9.6% to 970,400 dal, fruit wines – down 5.4% to 1.018 million dal, brandy – up 26.1% to 200,300 dal, sparkling wines – up 10.1% to 441,500 dal, low-alcohol beverages – up 23.3% to 345,800 dal. End
Belarus registers 67,518 coronavirus cases, 548 deaths as of Jul 28, 2020
MINSK, Jul 29 – PrimePress. Belarus registered 67,518 confirmed coronavirus cases as of July 29, 2020; 548 people died, Belarus’ Health Ministry reports on its official Telegram channel.
61,442 patients have recovered and have been discharged from hospitals.
As previously reported, the number of registered coronavirus cases in Belarus reached 67,366 on the previous day; 543 patients died.
The Health Ministry reports over 1.278 million tests for the coronavirus infection as of July 29, 2020. End
NBB’s currency rates as of Jul 30, 2020
MINSK, Jul 29 – PrimePress. The National Bank of Belarus (NBB) set on Jul 29, 2020 the following exchange rates of the Belarusian ruble (Br) against foreign currencies for Jul 30, 2020.
|
Currency |
Br |
||
|
1 |
AUSTRALIAN DOLLAR |
AUD |
1.7359 |
|
1 |
BULGARIAN LEV |
BGN |
1.4523 |
|
100 |
UKRANIAN HRYVNA |
UAH |
8.7371 |
|
10 |
DANISH KRONE |
DKK |
3.8166 |
|
1 |
U.S. DOLLAR |
USD |
2.4180 |
|
1 |
EURO |
EUR |
2.8413 |
|
10 |
POLISH ZŁOTY |
PLN |
6.4266 |
|
10,0000 |
IRANIAN RIAL |
IRR |
5.7571 |
|
100 |
ICELAND KRONA |
ISK |
1.7910 |
|
100 |
JAPANESE YEN |
JPY |
2.3042 |
|
1 |
CANADIAN DOLLAR |
CAD |
1.8116 |
|
10 |
CHINESE YUAN |
CNY |
3.4557 |
|
1 |
KUWAITI DINAR |
KWD |
7.9058 |
|
10 |
Moldovan Leu |
MDL |
1.4444 |
|
1 |
New Zealand Dollar |
NZD |
1.6103 |
|
10 |
NORWEGIAN KRONE |
NOK |
2.6633 |
|
100 |
RUSSIAN RUBLE |
RUB |
3.3462 |
|
1 |
SDR (Special Drawing Rights) |
XDR |
3.3986 |
|
1 |
SINGAPORE DOLLAR |
SGD |
1.7587 |
|
100 |
KIRGHIZ SOM |
KGS |
3.1546 |
|
1,000 |
KAZAKH TENGE |
KZT |
5.7870 |
|
10 |
TURKISH LIRAS |
TRY |
3.4730 |
|
1 |
BRITISH POUND STERLING |
GBP |
3.1358 |
|
100 |
CZECH KORUNA |
CZK |
10.8154 |
|
10 |
SWEDISH KRONA |
SEK |
2.7624 |
|
1 |
SWISS FRANK |
CHF |
2.6402 |
July 28, 2020
COMMENTARY: Belarus-Russia trade in decline due to pandemic and oil supply strife
MINSK, Jul 28 – PrimePress. Belarus-Russia trade turnover dropped by 22.6% in January-May 2020 to $10.790 billion year on year. Belarus’ imports from Russia were down by 32.5% to $5.832 billion, while exports to Russia decreased by 6.2% to $4.958 billion.
The outstripping decrease in imports from Russia stems from a decrease in the import of Russian crude oil to Belarus, since the parties had been long failing to reach agreements on oil supply terms.
As a result, Russia cut oil supplies to Belarus in the first quarter, imports of Russian oil to Belarus fell in January-May 2020 by 29.6% in January-May 2019 to 4.084 million tonnes, by 42.8% in monetary terms to $689.819 million.
Despite the resumption of oil supplies from Russia, Belarus stepped back in the market largely due to the global trend towards a decline in demand. According to the National Statistics Committee of Belarus (Belstat), the export of oil products dropped in January-May 2020 by 53.6% year on year. Belarus stood $1.412 billion short, as its revenues from foreign trade shrank by 30%, and the national budget did not receive Br719 million ($230 million at the exchange rate of the National Bank of Belarus) in export duties on oil products and potash fertilizers to compare with January-May 2019.
Interestingly, despite a significant decrease in demand for oil products, Belarus boosted their export to the Russian market almost twelvefold. However, seeking to protect domestic producers, the Russian government prohibited the import of fuels into Russia in May (until October 1, 2020), which strongly hit Belarus against the backdrop of sagging demand.
Russia took anti-COVID quarantine measures and shut the border shared with Belarus, which considerably undermined the performance of a number of Belarus’ key producers. Manufacturers of trucks and spare parts, meat, butter and tires incurred the greatest export losses. For instance, the export of trucks to Russia showed a 66.4% year-on-year decrease in value terms in January-May 2020 (down $198 million), beef – by 27.6% ($20m), butter – by 16.3% ($28m), tires – 36% ($21m). The export of sugar was down 61.1%, foods from flour – 62.4%, leather footwear – 28.6 %.
Some Belarus’ industries managed to maintain and even increase supplies to Russia in January-May 2020. Supplies of cheese and cottage cheese, passenger cars, railway vehicles, tractors and tractor trucks and agricultural machinery went up. Supplies of cheese and cottage cheese to Russia increased in January-May 2020 by 8.5% (up $31.367 million), passenger cars – 165% ($30.6m), tractors and tractor trucks – 21% ($20.8m), railway vehicles – 177% ($26.4m), agricultural machinery – 52% ($12.5m).
Belarus’ total exports were down 20.5% in January-May 2020 to $10.483 billion, while exports to Russia only decreased by 6.2%. It may seem that Belarusian enterprises performed well and retained their foothold in the Russian market better than in other export markets, but, in fact, exports to other markets largely declined in the oil products and potash fertilizers segments, and the drop in exports to the Russian Federation, which Belarus mainly supplies with products with high value-added, was more like of a systemic nature, rather than dictated by the market behaviour.
The closure of national borders was another important negative factor. Alongside transport and logistics difficulties for business entities, many Belarusians lost the opportunity to work in Russia, which is particularly sensitive for the regions. Since Belarusian labour migrants had to stay home, the aggregate loss of money transfers reaches $600-700 million a year. According to the Russian Central Bank, individuals’ transfers from Russia to Belarus totalled $667 million in 2018 and $607 million in 2019. Individuals’ money transfers from Russia to Belarus decreased 5.4% year on year in the first quarter of 2020. PrimePress reports, citing the Central Bank of the Russian Federation that transfers of individuals from Russia to Belarus stood at $122 million in January-March 2020.
To prevent further losses, Belarus has long been officially asking Russia to resume the standard border crossing regime, but, since March, the Russian government has not resumed regular air and rail traffic between states, although some restrictions on the transportation of essential goods and the cross-border movement of rotation worker have been eased. According to Russia’s official representatives, the epidemiological situation remains the main obstacle.
Belarusian officials have stated more than once that all necessary conditions have been created to lift the restrictions. Ambassador of Belarus to Russia Vladimir Semashko said in late June 2020 that the border would probably open at the beginning August, and that some cross-border movement restrictions had been lifted, as the epidemiological situation was getting normal. On July 14, 2020, the prime ministers of Belarus and Russia, Roman Golovchenko and Mikhail Mishustin, addressed Belarus-Russia trade decline and discussed the removal of trade barriers. Golovchenko said after the talks that Russia was planning on resuming transportation with Belarus in the near future.
On July 15, 2020, the Russian Federation cancelled the observation for foreign nationals, and Belarus no longer requested two-week quarantine for those arriving from Russia.
This was a mirror response to Russia’s regulations. Political considerations aside, this was done, among other things, to increase supplies of Russian commodities to the Belarusian market. End
Transfer of fiscal monitoring systems to Russia’s digital platforms jeopardizes Belarus’ commercial information security – Confederation of Entrepreneurship
MINSK, Jul 28 – PrimePress. The Republican Confederation of Entrepreneurship (RCE) of Belarus seconds the Ministry of Taxes and Duties of Belarus, which considers it inadmissible to transfer fiscal monitoring systems to digital platforms of the Russian Federation, the RCE states in the letter addressed to the Belarusian Entrepreneurship Development Council and the Ministry of Taxes and Duties posted on the RCE website.
According to the RCE, since 2019, the Russian government has been insistently lobbying the transfer of Belarus’ fiscal information to Russia’s digital platforms. This concerns monitoring of point-of-sale terminal operations, identification marking of goods, electronic invoices and traceability of goods.
As the fiscal administration coordinator, the Tax Ministry has so far opposed this initiative, including on the Union State and the Eurasian Economic Commission venues. Russia has increased its lobbying pressure lately. Therefore, the ministry points at the associated threats to commercial information security.
In the event of the transfer, Belarus would depend on the scrupulousness of Russian entities when it comes to fulfilling obligations to ensure unhindered access to information systems of regulatory authorities and business entities of Belarus and possible technical blocking of unwanted Belarusian market participants.
Besides, according to the Tax Ministry, if the Union State and/or the Eurasian Economic Union cease to exist, it would take two or more years to restore the national systems. Belarus would not be able to influence the costs of services provided by Russian operators if they act on a commercial basis, if changes to accounting and tax accounting would be required, etc.
The Tax Ministry says that neither the agreement on the identification labelling of goods in the Eurasian Economic Union (dated 2.02.2018), nor the agreement on the traceability of goods imported into the customs territory of the Eurasian Economic Union (dated 29.05.2019) stipulate the use of unified information systems.
The RCE regards the transfer of commercial information on financial and economic activities of Belarusian business entities to a foreign government or business entities directly violates the rights of Belarusian business entities and, actually, creates a possibility of transferring their commercial secrets to potential and real competitors. Besides, the transfer required by the Russian Federation will inevitably lead to an exacerbation of technical problems in the functioning of the information systems and make it impossible for Belarusian to rapidly respond to emerging failures. This would also complicate the procedure for restoring the rights of entities who have suffered from technical failures in the systems.
The Confederation emphasizes that all these critical risks pose additional threats to the sovereignty of Belarus. End
Belarusbank draws €60m syndicated loan for general corporate purposes to finance customers’ trade contracts
MINSK, Jul 28 – PrimePress. Belarusbank attracted a syndicated loan in the amount of €60 million for general corporate purposes and financing trade contracts of the bank’s clients. The transaction was made on July 27, 2020.
The current project is the bank’s 16th international deal in the syndicated loan market since its debut in 2006, Belarusbank said in a press-release.
The transaction was arranged by 9 foreign financial institutions, including three which took part in this type of transactions by Belarusbank for the first time.
The following institutions acted as the authorized lead arrangers of the syndicated loan: Russia’s ALFA-BANK (also a credit manager), Transcapitalbank, Sovcombank, Prime Brokerage Limited; lead organizers – Bank Inteza, ROSBANK, Altyn Bank (subsidiary bank of China CITIC Bank Corporation Limited). The loan was arranged by Halyk Savings Bank of Kazakhstan JSC and International Bank of Azerbaijan OJSC.
The deal makes it possible to expand the geography of lenders in the syndicated lending market. The participating banks included representatives from Russia, Kazakhstan, Azerbaijan, Great Britain, as well as subsidiary financial institutions of Societe Generale, one of the largest financial groups in Europe, and the Italian banking group Intesa Sanpaolo.
Belarusbank Savings Bank, the largest Belarusian bank, was established in July 1991 and transformed in October 1995 by merging with Sberbank of Belarus. The state’s share in the authorized capital is 99.95%.
Tuesday forex session: ruble down 0.9% against dollar to Br2.4103/$1
MINSK, Jul 28 – PrimePress. Following the bidding at the single forex session of the Belarusian Currency and Stock Exchange (BCSE) in the format of a continuous two-way auction, the Belarusian ruble stood at Br2.4103/$1 to the dollar on Jul 28, down 0.9% on the previous day of trading, says the BCSE official report.
Following the bidding at the single forex session on Tuesday, the ruble stood at Br2.8281/€1 to the euro, down 1.19%; at Br3.3511/RUB100 to the Russian ruble, down 0.36%.
As previously reported, the National Bank of Belarus (NBB) on June 1, 2015 stopped the practice of fixing the exchange rate of the Belarusian ruble to the basket of foreign currencies on a day-to-day basis and switched over to FX trading on the Belarusian Currency and Stock Exchange (BCSE) in the format of a continuous two-way auction.
The parties taking part in continuous two-way auctions at the BCSE are free to make bids and offers during the entire auction period, however deals will be made if the FX trading system bridges bids with relevant offers.
The weighted average rate of the US dollar, the euro and the Russian ruble shall be the National Bank’s official exchange rate of the relevant currency for the day that follows the day of trading.
At the moment, the exchange rate of the Belarusian ruble is pegged to the basket of foreign currencies, with the share of the Russian ruble standing at 50%, the US dollar – 30%, the euro – 20%. End
Belarus’ life:) telecom operator raises prices of some services by 20.2-50% Aug 4, 2020
MINSK, Jul 28 – PrimePress. Belarusian life:) telecom operator will raise prices of some telecommunication services by 20.2-50% from August 4, 2020, as voice services consumption has increased significantly in recent months. The exchange rate of the Belarusian ruble also influences the costs of services, says the company.
The subscription fee for the Voice 2 service package will increase 20.2% to Br11.9 per month ($5 at the rate of the National Bank of Belarus).
The operator will increase the prices of all minute packages: 10 minutes per day – up 22.4% to Br0.6 ($0.25 USD), unlimited calls to all networks in Shake packages – up 33.3% to Br8 per month ($3.3).
Once all package or service minutes have been used, the price of calls will increase by 50% to Br0.15 per min ($0.06).
The operator will also raise a number of roaming tariffs.
BeST CJSC (life:)) was licensed to provide communication services on March 24, 2005, and began commercial operation of its network on December 21, 2005. The provision of services under the life:) brand began on December 3, 2008. The operator has been rendering 3G-based services since November 2, 2009, and LTE-based services since August 2016. The operator numbers 1.1 million active subscribers. End (Br2.3889/$1)
Belarus’ rolled metal output down 6% in Jan-Jun 2020 to 1.197m tonnes
MINSK, Jul 28 – PrimePress. Belarus’ output of finished rolled products decreased in January-June 2020 by 6% year on year to 1.197 million tonnes, the National Statistics Committee of Belarus (Belstat) reports.
Steel output fell by 5.9% to 1.287 million tonnes, steel rods and hot-rolled rods – down 2.7% to 1.031 million tonnes, steel cord – down 35.6% to 29,900 tonnes, shaped (corrugated) sheets from unalloyed steel – up 16% to 11,030 tonnes.
Total output of metallurgical and finished metal products (6.4% of total industrial output) decreased in Jan-Jun 2020 by 3.8% to Br3.405 billion ($1.425 billion at the rate of the National Bank of Belarus).
Inventories of finished products amounted to Br163.6 million ($68.483 million) as of Jul 1, 2020 or 41.2% of average monthly output, up 2.5 percentage points month on month, up 3.6 p.p. year on year. End (Br2.3889/$1)
Belarus’ tractor output up 2.7% in Jan-Jun 2020 to 16,100
MINSK, Jul 28 – PrimePress. Belarus’ output of tractors for agriculture and forestry increased in January-June 2020 by 2.7% year on year to 16,100 units, the National Statistics Committee of Belarus (Belstat) reports.
In June, output totalled 2,400 units (up 1.6% month on month, down 18.9% year on year).
Output of harvesters increased by 3.7% to 7,301 units (2,426 in June 2020), up 91.9% month on month, up 64.5% year on year.
Output of machinery for agriculture, fruit farming and forestry increased in Jan-Jun 2020 by 7.5% to 14,044 units (2,594 in June), down 9.4% month on month, up 67.40% year on year.
Inventories of tractors stood at 5,300 units as of July 1, 2020 (198% of average monthly output), up 7.1% against June 1, 2020.
Inventories of harvesters amounted to 1,694 units (139.2%; down 5.1%); machinery for agriculture, fruit farming and forestry – 1,036 units (44.4%; down 8.9%). End
Belarus raises prices of tobacco products by 12.4% in Jan-Jun 2020
MINSK, Jul 28 – PrimePress. Belarus raised consumer prices of tobacco products in January-June 2020 by 12.4% year on year, the National Statistics Committee of Belarus (Belstat) reports.
Prices of tobacco products increased in June 2020 by 14% year on year.
The prices rose by 0.2% from May 2020, by 9% compared with December 2019. End
Belarus’ beer output down 5.3% in Jan-Jun 2020 to 21.717m dal
MINSK, Jul 28 – PrimePress. Belarus’ beer output decreased 5.3% on the year in Jan-Jun 2020 to 21.717 million decaliters, Belarus’ National Statistics Committee (Belstat) said in a report.
In June alone, beer output was down 8.3% year on year, up 9.7% from May 2020 to 4.032 million dal.
Barley malt output stood at 76,000 tonnes in Jan-Jun 2020, up 1.8% year on year. In June alone, malt output totalled 12,900 tonnes, up 4.2% year on year, did not change against May 2020.
As of July 1, 2020, beer stocks amounted to 1.612 million decaliters (46.3% of average monthly output). Compared with June 1, 2020, the stocks decreased by 24.2%.
Malt inventories amounted to 35,700 tonnes as of July 1, 2020 (330% of average monthly output), up 14.4% against June 1, 2020.
Beer sales increased in Jan-Jun 2020 by 3.5% year on year to 19.704 million dal. In terms of absolute alcohol, the share of beer in sales increased in Jan-Jun 2020 by 0.2 percentage points to 21.4% against Jan-Jun 2019. End
Belarus’ output of whole milk products up 7.1% in Jan-Jun to 1.057m tonnes
MINSK, Jul 28 – PrimePress. Belarus’ output of whole milk products (in milk equivalent) increased in January-June 2020 by 7.1% year on year to 1.057 million tonnes, Belarus’ National Statistics Committee (Belstat) said in a report.
Output of low-fat dairy (in skim milk equivalent) decreased by 28.7% to 35,300 tonnes.
Butter output in Jan-Jun 2020 was up 6.2% year on year to 59,900 tonnes, cheese (except cream cheese spread) – up 9.2% to 130,600 tonnes.
Output of milk powder and cream increased by 11.6% to 80,200 tonnes, non-solid condensed milk and cream – up 28.2% to 39,400 tonnes.
Inventories of whole milk products totalled 23,200 tonnes as of July 1, 2020 (13.2% of average monthly output), low-fat dairy – 1,400 tonnes (23.9%), butter – 5,700 tonnes (57.1%), cheese – 13,500 tonnes (62.1%), powdered milk and cream – 11,500 tonnes (95.7%), non-solid condensed milk and cream – 3,200 tonnes (75.7% of average monthly output). End
Belarus registers 67,366 coronavirus cases, 543 deaths as of Jul 28, 2020
MINSK, Jul 28 – PrimePress. Belarus registered 67,366 confirmed coronavirus cases as of July 28, 2020; 543 people died, Belarus’ Health Ministry reports on its official Telegram channel.
60,669 patients have recovered and have been discharged from hospitals.
As previously reported, the number of registered coronavirus cases in Belarus reached 67,251 on the previous day; 538 patients died.
The Health Ministry reports over 1.27 million tests for the coronavirus infection as of July 28, 2020. End
For additional information or enquiries, please, contact Mr. Vladimir Kremyanko, First Secretary (v.kremyanko@mfa.gov.by, tel. 011 405 29 334)
