Fewer profitable enterprises in Belarus by late 2016

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August 24, 2016 18:03
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According to the National Statistics Committee, in H1 2016, loss-making enterprises increased in number by one-fourth to 1738, making 23% of their total number. Unprofitable enterprises increased in number due to the reduced state support funding and the overall deterioration of the financial situation amid currency devaluation. Some key enterprises may adjust their performance indicators by using administrative methods (resource allocation, debt fixation in the national currency and deferred payments). Administrative pressure on successful enterprise is likely to increase in order to boost fiscal charges. In addition, administrative and criminal prosecution against managers at large profitable non-state enterprises is likely to increase. If current economic trends persist, the number of profitable enterprises may reduce by 10% by the year-end and net profits in the economy may shrink by 20-25% as compared with 2015.

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Former civil servants as new factor in unemployment growth
October 02, 2017 12:22

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.

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