Belarus Plans to Ratify Agreement on Union Property in Autumn

Union State budget will get a long-expected sponsor in the form of an income from the implementation of joint programmes. At the meeting of the Standing Committee on International Affairs and CIS Relations at the House of Representatives of the National Assembly of Belarus it was announced that the agreement on union property is planned to be ratified at the autumn session of the House of Representatives. “It is necessary to work out such legislative basis so as that no one would assert any claims to anybody when union programmes are implemented and Union State enterprises are established,” Belarusian information agencies are citing Sergey Kostyan, deputy chairman of the committee.

Union State budget will get a long-expected sponsor in the form of an income from the implementation of joint programmes. At the meeting of the Standing Committee on International Affairs and CIS Relations at the House of Representatives of the National Assembly of Belarus it was announced that the agreement on union property is planned to be ratified at the autumn session of the House of Representatives. “It is necessary to work out such legislative basis so as that no one would assert any claims to anybody when union programmes are implemented and Union State enterprises are established,” Belarusian information agencies are citing Sergey Kostyan, deputy chairman of the committee.

The agreement was ratified by Russia long time ago, and the Russian party has urged Belarus more than once to do the same. Yet, the Russian Federation has no system of union property accounting which disturbed their Belarusian colleagues. However, the lost profits from union developments as well as prospective cooperation must have urged bureaucratic processes forward completion.

The document will make it possible to form the property of the Union State and keep record of it, as was noted by the State Committee on Property of Belarus. According to the agreement the property of the Union State includes budget means, property both built up and purchased by the Union State including at the Union State’s cost as well as the property obtained as a result of joint programmes’ implementation. It is provided for that the means earned by employing Union State property are subject to the entry to its budget.

The document also mentions that the union property can be used solely for achieving the goals and objectives of the Union State and cannot be used for attaining the objectives that are incompatible with the functions of the Union run authorities.

Belarus keeps record of the property which was obtained when implementing union programmes. As of January 1^st of the current year it included 73 thousand units and its book cost amounted to more than Br560 billion. Buildings and facilities make 37% of the union property value, machinery and equipment – 11%, while computer engineering – 6%.