Deputy Economy Minister of Belarus, Andrei Tur, reported about the essence of the directive №4 on economy liberalization, prepared by his ministry. According to him, one of the main objectives of this document is to simplify the system of lending and financial aid provision to small and medium businesses, what Belarusian banks do not pay enough attention to.
«They are guided by the logic: it is better to give credits to a large enterprise for big money, than to lend to small enterprises in little amounts. And not because the risk is fewer, but because there is not so much work», Deputy Minister said, BelTA informs.
Among other measures to liberalize the economy, provided by a draft document, Andrei Tur named simplification of conditions for investment activity and increase of the tax system efficiency by firstly making it incentive-based (there provided preferences for the actors, who honestly execute tax obligations).
In addition, the deputy economy minister reported that it’s planned to strengthen the guarantees of property rights through the revision and repeal of normative legal acts, allowing unreasonable interference of state institutions in respect of the property, and extend the lease or free use of unused or underutilized state property.
Also, according to the deputy minister, the authorities intend to continue the liberalization of pricing processes and promotion of fair competition, simplify and ensure stability of legislation, governing business activities, eliminate needless inspections of commercial organizations and optimize the fines regarding the proportionality of violations and penalties.
The deputy head of Ministry of Economy reported that proposals on directive №4 had been sent to his department by some ministries, regional executive committees and Minsk City Executive Committee, the National Bank, the Supreme Economic Court, the General Prosecutor’s Office and five social associations and unions, and thanked everyone who sent suggestions.
