Cement Plants to Begin Repaying State Debts in 2026

Belarusian cement plants will begin repaying debts to the state budget in 2026, with their obligations being converted into Belarusian rubles. A decree No. 156 dated May 7 was published today on the National Legal Internet Portal and entered into force upon signing. The document amends the 2019 decree on restructuring the debt of Belarusian cement plants.

Under the decree, the obligations of OJSC Belarusian Cement Plant, OJSC Krasnoselskstroymaterialy, and OJSC Krichevcementnoshifer to repay principal debt, interest, commissions, and other payments covered from the republican budget in 2015–2024 are being converted from foreign currency into Belarusian rubles at the National Bank exchange rate as of May 5, 2026.

OJSC Belarusian Cement Plant will repay debts totaling $203.72 million between 2026 and 2038. OJSC Krichevcementnoshifer must repay $241.37 million between 2026 and 2049, while OJSC Krasnoselskstroymaterialy is to return $166.23 million to the budget between 2026 and 2037. Under the previous 2019 decree, Belarusian Cement Plant was expected to begin repayments in 2029, Krasnoselskstroymaterialy in 2030, and Krichevcementnoshifer only in 2038.

Additionally, OJSC Krichevcementnoshifer will also reimburse payments made from the republican budget under government guarantees in 2019–2026 totaling more than $150 million during the period from 2026 to 2038. Obligations arising after May 5 of this year will have to be repaid in rubles at the current exchange rate.

The plants will be required to repay debt annually by August 31 of the year following the reporting year, in amounts determined by the Council of Ministers. However, payments cannot be lower than:

• 2.5% of sales revenue excluding VAT for 2025–2029,
• 5% of sales revenue excluding VAT for 2030–2033,
• 5% of sales revenue excluding VAT for 2034 and subsequent years.

The plants must also open special accounts at Belarusbank to accumulate funds intended for debt repayment to the budget.

Personal responsibility for fulfilling the decree has been assigned to the heads of the cement plants, the management of the state holding company BCK, the minister of architecture and construction, and the профильный deputy prime minister.