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02 April 2020, 10:32

Belarus unveils Br110m fiscal stimulus package to support economy over coronavirus

Sergei Rumas
Sergei Rumas

MINSK, 2 April (BelTA) – Belarus will earmark about Br110 million to boost the domestic economy menaced by the coronavirus, Belarusian Prime Minister Sergei Rumas told reporters, BelTA has learned.

The set of measures to support the economy was submitted for scrutiny to the head of state. “It is hard to name all the measures. I can only say that direct fiscal support amounts to about Br110 million,” the head of government informed.

The premier called the proposed measures extraordinary. “They are aimed at supporting entire economic sectors that employ 550,000 people,” Sergei Rumas noted.

There will be five packages. “They provide for a number of monetary and prudential measures, support for the real economic sector and protection of the consumer market,” Sergei Rumas said. There will be a package of measures that will allow initiating decisions in the Eurasian Economic Union.

The government has already passed a series of related resolutions. “All the other resolutions to be set forth in this package will be passed today. They have already been developed and are being reconciled,” the premier noted.

Sergei Rumas recalled that the president is carefully studying proposals to provide state support. “Therefore, the head of state forwarded these proposals to other government agencies for scrutiny. The government expects that our colleagues from the Belarus President Administration and the State Control Committee share our vision and will submit their findings to the head of state in the nearest future,” the head of government said.

The stimulus package is to be adopted soon.

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