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Eastern Europe
November 30, 2018 www.intellinews.com I Page 19
are seeking to secure an energy deal by December 15. Russia's expected tax manoeuvre envisages a gradual reduction in the rate of export duty on oil and petroleum products from 30% to zero in the period from 2019 to 2024 and a proportionate in- crease in mineral extraction tax on oil production.
According to the Belarusian finance ministry, the country’s budget revenue losses from the tax manoeuvre in 2019 alone were estimated at
BYN600mn ($300mn), and the losses might total $2bn by the end of 2024.
Belarus’ foreign exchange reserves increased by $181.3mn, or 2.6% month-on-month, to $7.108bn
in October. However, a significant part of the re- serves were created by bonds issued by the National Bank of Belarus (NBB), which the regulator should repay within the next 12 months. The bondholders of these notes are local commercial banks.
The largest conference for capital market professionals in Russia
Saint-Petersburg December 6-7
XVI Russian
Key topics - 2018:
• Fixed income market regulation and infrastructure in Russia
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• Investments in infrastructure: green bonds, concession bonds
Contacts:
Participation:
Aliya Gallyamova aliya@cbonds.info
2018 Bond Congress
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