Foreign trade of Belarus will improve only if refining and potash sales perform well

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April 22, 2016 19:16

According to the National Statistics Committee, in May 2015, foreign trade deficit totalled USD 163.8 million, the lowest value since January 2015. The improvement was due to a record high volume of potash exports in May 2015 and the increase in exports of petroleum products to foreign markets. Thanks to recently signed agreements for potash supplies to India and China, Belarus is likely to increase her potash sales on the world potash market. The situation with petroleum products supplies largely depends on the world oil prices and supplies of Russian oil to Belarus in Q3 2015. If world potash and oil prices fall, Belarus will be unable to meet her projected export volumes for 2015. Extended sanctions against Russia have increased the risk of further reduction in bilateral trade – mainly concerning the supply of engineering products to the Russian market.

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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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