Belarus EU Press Review: November/2011

James Wilson : To attract investment, it is important to promote the brand « Belarus » in the world

Interview of James Wilson, director of the Belarus EU Business Council, to the correspondent of BELTA. [English translation available here.]

MTS Auction Sale Put off

The Belarusian authorities have decided to put off the auction of MTS state-owned 51% stake, reported Head of the State Property Committee of Belarus Georgi Kuznetsov. The auction was to have been held on December 1, but was rescheduled for December 23, 2011.

Fule: Belarus Faces No EU Economic Sanctions

European Commissioner for Enlargement and European Neighborhood Policy Stefan Fule met with representatives of the Belarusian opposition in Brussels on November 29. As told in the civil campaign "Tell the Truth!," Stefan Fule voiced his principled position on Belarus and its leadership during the meeting. "The EU stands ready to extend visa bans, but won't impose economic sanctions," he said.

Gazprom Cuts Belarus Gas Price This Year, Allows Delayed Payment

OAO Gazprom, Russia’s gas export monopoly, reduced fuel prices for Belarus in the second half of this year and will allow the country to delay some payments after agreeing to buy the national pipeline operator.

Belarus to hire international financial advisers

To make the most of privatization, Belarus is going to hire international financial advisers, Director of the National Agency for Investments and Privatization of Belarus Dmitry Klevzhits said at the Lithuanian business forum in Minsk. The National Agency for Investments and Privatization has announced a competition to choose financial advisers who will provide consultations for the privatization of eight Belarusian companies. The privatization of these companies is a pilot project of the Agency and the World Bank.

A new Eurasian union is born

The new Eurasian Economic Commission brings new business opportunities and increased financial security, and paves the way for the Eurasian Economic Union. The creation of the Common Economic Space (CES) has begun. On November 18, the presidents of Russia, Belarus and Kazakhstan signed an agreement for the establishment of a central integration body for the three countries, the Eurasian Economic Commission (EEC).

Belarus has highest inflation in Europe: report

Belarus was leading European countries in the growth of consumer prices, the Belarusian National Statistical Committee said in a report. According to the report, consumer prices in Belarus grew 8.2 percent in October while most other European countries, including Russia, Bulgaria, Spain, Hungary, Italy and Ireland, kept their inflation rates under 1 percent.

Business Voiced Three Forecasts for Belarus in 2012

Development of the Belarusian business in 2012 can follow three different scenarios. The most optimistic forecast, announced at the International Forum of entrepreneurship in Minsk, is a dialogue of the government and private business.

Belorusneft Reluctant to Join Belneftekhim

Management of the State Association Belorusneft believes it inappropriate to reorganize the enterprise by joining the holding company on the basis of the State Concern Belneftekhim. According to the company's management, this merger won't contribute to Belorusneft more efficient operating, informed a source in the state administration.

Belarus’ advantages for foreign investment praised

Belarus has all competitive advantages for foreign investment, Prime Minister Mikhail Myasnikovich said at the plenary meeting of the Belarusian Innovation Week, press reports.

EU estimates its assistance to Belarus at €175m in 2007-2013

From 2007 to 2013 the European Union will have allocated €175 million for projects in Belarus, the head of the EU Office in Belarus Maira Mora said in a ceremony of unveiling the dwelling for refugees which reopened after repairs within the technical assistance project funded by the European Union and implemented by UNHCR, learnt from the EU Office.

EBRD reveals higher democracy support in CIS including Belarus

The current global economic meltdown has had its negative impact on the support for democracy and market economy in Central and Eastern Europe but has strengthened this support in some CIS countries and South Europe, says the EBRD report, Crisis and Transition: The People’s Perspective.

Belarus President Administration in for serious changes

Serious changes should be brought about in the economic branch of the Belarus President Administration, said President of Belarus Alexander Lukashenko as he appointed Andrei Tur Deputy Head of the Belarus President Administration.

Lukashenko demands more effective management of state property

State property should be managed more effectively, said President of Belarus Alexander Lukashenko at the government session held to discuss state property management.

Belarus outruns all CIS countries in Human Development Index.

The United Nations have presented its annual report. Belarus is 65th among states with high level of wellbeing.

Belarus’ National Bank to raise refinancing rate to 40% p.a. 11 November

On 11 November 2011 the National Bank of Belarus increases the refinancing rate to 40% per annum. Relevant resolution No. 503 was adopted by the Board of the National Bank on 8 November 2011, learned from the information department of the National Bank. Simultaneously the Monetary Policy Committee of the National Bank decided to raise interest rates for liquidity management operations.

Miasnikovich Called Four Problems of Belarusian Economy

Prime Minister of Belarus Mikhail Miasnikovich called four major problems of the economy at the meeting of the Council of Ministers. "These are a budget deficit, a balance of payments deficit, an unrealistic exchange rate and the absence of real sources to finance housing and other government programs," said the prime minister.

Authorities Tighten Business Conditions for Foreigners

The Belarusian authorities have met the requirements of foreign trade participants and have established favorable terms for certain operations. However, the timing for completion of foreign trade operations, on the contrary, has been tightened. The new provisions are entrenched in a joint resolution of the Council of Ministers and National Bank of Belarus of November 5, 2011.

World Bank: Belarus should Reduce State Subsidies

The World Bank released its recommendations to restore sustainable economic growth in Belarus. The bank experts suggest the Belarusian authorities reducing the amount of state subsidies in agriculture and energy, as well as reforming social and pension system.

Lukashenko: Belarus' Main Resources - Labor and Talent of its Citizens

President of Belarus Alexander Lukashenko believes that the main resources of the country are "labor and talent of its people." This was stated by the politician during the awarding ceremony on October 31. "These awards represent the top you’ve been striving to reach, overcoming difficulties and finding optimal solutions," he said.

Belarus, Kazakhstan and Russia Creating Equivalent of European Commission

Belarus, Kazakhstan and Russia intend to set up the Eurasian Economic Commission for Europe (EEC), which will become a permanent supranational authority of the Customs Union and Common Economic Space. In addition to the Customs Union functions (customs and tariff regulation, customs administration, technical regulation), EEC will receive a number of new powers.

Belarus EU Press Review: November/2011

Official Documents, Statements and Press-Releases