Belarus to pay $4.5 bn debt in 2019


Russia’s tax maneuver is an unexpected ‘gift’ to the leadership of Belarus at the end of the year. However, it is not the major source of concern, Belarusian economist Leanid Zaika said in Belsat TV program Talk Of The Day.

According to him, Belarusians should bear in mind that 4.5 bn external debt is to be paid off in 2019, but the authorities will attempt to divert public attention and shift the blame for their missteps on Russia.

“The scheme is simple – the Russians are to blame, it is their tax maneuver that is the reason for deteriorating the situation. We [Belarus] have turned into a drug-addict who is on Russia’s energy needle. Our total debt is 40 bn, next year we will have to pay 4.5 billion. The situation is challenging,” Leanid Zaika believes.

By various estimates, the tax maneuver may result in Belarus’ losing up to $400 mln in 2019. According to the expert, it will not have much impact on the lives of Belarusians while the payment of external debt may severely affect the welfare of our citizens.

On December 25, Alyaksandr Lukashenka and Vladimir Putin are to hold talks in Moscow. The issues of tax maneuver compensation and further integration are on the agenda.

At today’s meeting Alyaksandr Lukashenka is expected to ask Russia to provide a compensation for the tax maneuver in the oil sector that will push the oil price for Belarusian refineries up. Belarusian Deputy PM Ihar Lyashenka said earlier that the losses of two Belarusian oil refining plants and the country’s budget from Russia’s tax maneuver would total $383 mln with the oil price of $70 per barrel in 2019. According to the top official, Belarus counted on the compensation amounting to around $310 mln in 2019. However, Russia’s Finance Minister Anton Siluanov stated that the Kremlin had not made such promises. Moreover, he added that Minsk should not count on compensation for losses from the tax maneuver without an additional ‘new impulse’ in integration.

Belsat.eu

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