Daily Tax Report ®

Belarus Sees $400 million Loss From Russia Tax Maneuver Next Year

Oct. 10, 2019, 9:18 AM

Belarus’s accumulated losses from Russian tax maneuver may reach around $800 million in 2019-2020, Finance Minister Maxim Ermolovich said after a parliamentary hearing in Minsk.

  • Talks on compensation continue.
  • Belarus expects to raise $1.5 billion abroad next year, Ermolovich said without elaborating.
  • Belarus may propose next week to restart talks on a new IMF program to support structural reforms in the country.
  • Ermolovich declines to say how much financing Belarus may seek from IMF.
  • Budget deficit is seen at 1% of GDP next year, or is as much as 1 billion new Belarusian rubles ($483 million).
  • Belarus expects more than...
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