Belarusian authorities to re-introduce payments by drafts
As of May 2015, Belarusian exporters are allowed to sell their products for non-resident customer bills. With this tool, Belarusian producers may legally delay payments to foreign customers for up to one year. As a result, payment terms for delivered products might be prolonged, domestic products might be sold with a discount, exports somewhat increase, support for exporters increase, including through delays in the return of foreign exchange earnings to Belarus. The ‘payment by drafts’ was very popular in Belarus in the late 1990s. Now this payment system may be re-introduced on the domestic market in order to sell products of the most troublesome enterprises.
According to Belstat, in August 7,600 people were dismissed, including 4,800 civil servants. Dismissals of civil servants were due to the optimisation in the public administration by up to 30%. Some civil servants would retain their job however would lose the status of a civil servant. Vacancies on the labour market are likely to reduce in number, thanks to the optimisation, the state administration would increase wages for public servants. The payroll fund for retained employees is likely to increase and some former state employees are likely to get jobs in affiliated organizations. The optimisation of the state apparatus should complete by January 1st, 2018, and some former civil servants are likely to join the ranks of the unemployed.