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As the new tax maneuver will affect Belarus

29 October 2019

As the new tax maneuver will affect Belarus

Svetlana Gurina, who is Deputy Chairman of the concern “Belneftekhim” said that as early as 2020, oil prices production of oil refining at the Belarusian plants will rise significantly in price. In addition, the new tax maneuver of Moscow in the oil sector will lead to further appreciation of USD 17.7 per tonne. Belarusian analysts estimated and calculated effect of the tax maneuver of Russia on the price of oil, the terms do not happy.


She said Gurin - “next year will be the next stage of the tax maneuver in Russia, the forecast is calculated in the quote of USD 60 per barrel of oil. If this figure does not change, the price of oil to Belarusian oil refineries will grow by 17.7 USD per ton”. This tax will lead to the fact that in the international market competitive power of Belarusian manufacturers will be extremely low.

One of the main factors of increase in the price of Belarusian oil is the reduction of the customs duty, and this is one of the consequences of tax maneuver. The total losses, which is calculated in the Belarusian government is 250 million USD is the figure for the first nine months. Belarus will start adapting to the new policy of the Russian Federation, however, will have to develop a special set of measures.


The Ministry of Finance of Belarus has estimated the probable amount that will cause damage. In General, the total losses of the economy in 2019 - 2020 will amount to 800 million USD. Press Secretary of the Russian Prime Minister Oleg Osipov said, “you cannot lose what does not belong to you, so the loss of Belarus does not apply to the obligations of Russia to the Republic, including financial”.


Earlier, the press Secretary of the Russian Prime Minister Oleg Osipov has commented on a position of Minsk on the losses of the Belarusian side as a result of the tax maneuver Russia in the oil sector.


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