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09 February 2023, 09:00

Minister: Timely anti-crisis measures contributed to positive expectations of business

Aleksandr Chervyakov
Aleksandr Chervyakov

MINSK, 9 February (BelTA) - Timely anti-crisis measures have contributed to the formation of positive expectations of the business community, Belarusian Economy Minister Aleksandr Chervyakov told BelTA.

“Timely anti-crisis measures have contributed to the formation of positive expectations of the business community. As a result, the number of new commercial organizations has been increasing on the market since April 2022,” said Aleksandr Chervyakov.

According to him, the level of business activity has increased by 11% as compared with 2021. Quantitative growth parameters proportionally improve qualitative indicators, which characterize the sector's contribution to the overall economic results.

“The stable activity of SMEs contributes significantly to the budget revenues. SMEs account for more than 36% of tax payments. The state continues its policy of reducing the administrative burden on entrepreneurs by digitizing government-business interaction. This multi-stage process involves all regulatory bodies, and also specialists at the Development Bank,” the minister said.

We have so far analyzed about 600 existing administrative procedures, more than half of them were excluded or optimized in terms of deadlines or the list. This is a real saving of time and money for business.

“We will continue to improve the tools of non-financial support for SMEs by developing a system of support centers and business incubators in the regions. Special attention will be paid to small manufacturing businesses that are ready to participate in import substitution programs. The systemic work is built and carried out using three mechanisms. In particular, financial support for import-substituting projects, establishment of communication between state organizations and private manufacturing businesses, and electronic trading platforms. The high efficiency of these mechanisms will significantly accelerate the introduction of domestic analogues of foreign components, increase the degree of localization of Belarusian goods and stimulate the creation of new import-substituting industries,” the minister added.

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