Highly profitable enterprises in Belarus forced to share profits

In November – December 2014, 11 highly profitable enterprises in Belarus will transfer part of their profits (totalling BYR 677 billion) to the National Development Fund.

Belaruskali will pay the largest share – more than BYR 442 billion, thus partially compensating for the losses from the abolition of the potash export duty. Financial health and investment activity of enterprises subject to the regulation will reduce. State control over the activities of non-state economic sector will increase in order to replenish the state budget. In addition, the state might strengthen liability of enterprises and citizens for various violations in the economic sphere. Non-core governmental programmes might not receive full funding in order to implement budgetary savings.