OREANDA-NEWS. On 06 August 2009 was announced, that the Council of Ministers will have to decide on cutting the tax load through abolition of turnover taxes and some local taxes by the end of the summer, First Deputy Prime Minister Vladimir Semashko said during a session of the Council of Ministers.

“It is also important to support the largest exporters by reducing loan costs by 50%. We have prepared a draft resolution to halve loan rates,” Semashko said.

“Besides, we need to have our budget finance up to two-thirds of the rate on loans that Russian consumers of Belarusian machines take to import our products. The talks with Sberbank will soon be completed,” Semashko said.

Semashko said a package of measures would be launched by late August to protect the domestic market of consumer goods.

Also, Belarus is set to create the national leasing company with sufficient floating capital. “Relevant draft documents have been submitted to the Presidential Administration,” Semashko said.

Another crucial task for the government is to work out a set of preferential terms for SMEs to promote Belarusian products to foreign markets. “Small business will work like ants – they will take our goods abroad and get back with foreign exchange,” Semashko said, adding that a relevant document would be prepared by August 15.