An incident at the “Belaruskaliy”
An intergovernmental commission Headed by First Vice-Premier Vladimir Semashko was established in Belarus to eliminate the threat of flooding of one of the mining sites at “Belaruskaliy”.
In late June 2011 “Belaruskaliy” suffered from the flooding of the mine pits of the 2nd pit-management by brine contained in the rock. Following the incident the company built a temporary waterproofing bridge and started maintenance works. At the time being the officials reported the brine inflow has declined. On 28 July journalists from the state-owned media were allowed to report from the mine pits to prove that engineers had full control over the situation.
Regardless of the official optimism, independent experts say there was still a possibility of complete flooding of the mine. The incident, the scope and consequences of which are carefully hidden, implies that the market value of the company will go down, as well as interest of potential investors. At the same time, the government seriously expects to sell 20-50% stakes of the company at $ 30 billion. Uncertainty with the emergency situation at the “Belaruskaliy” finally takes off the agenda the issue of selling of its shares at least until the end of 2011.
The country's leadership has instructed the local authorities to raise minimum wages at enterprises by the end of 2019 to BYN 1,000, which would lead to an increase in the average wage in the economy as a whole to BYN 1 500. The pace of wage growth in 2017 is insufficient to ensure payroll at BYN 1000 by late 2017 without manipulating statistical indicators. In order to fulfil the president’s order, the government would have to increase budgetary expenditures on wages in healthcare and education, enterprises – to carry out further layoffs and expand the practice of taking loans to pay wages and restrict investment in modernisation of fixed assets. In 2010, the artificial increase in wages led to a threefold devaluation in 2011, an increase in the average salary to BYN 1500 will not match the capabilities of the economy and would lead to yet another devaluation.