Increase of authorized capital of JSC "Belinvestbank"
The government of Belarus has decided to increase the authorized capital of JSC "Belinvestbank" at 10 million, because it preserves hope for a profitable privatization in 2012. But the high price (over $ 1 billion) does this proposal unattractive to investors.
The government of Belarus has decided to increase the authorized capital of JSC"Belinvestbank" at 85 billion rubles ($ 10 million) due to the remnants of the national budget.
In contrast to the Belarusbank and Belagroprombank, which authorized funds have been increased by $ 1.7 billion at current exchange rates due to emission sources, recapitalization of Belinvestbank is conducted by the expense of real money. One reason for the increased government focus on "Belinvestbank" is its desire to privatize profitable (previously several well-known European banks expressed such a desire). However, due to persistence of the country authorities in maintaining a high price for this controversial asset, the privatization of the bank did not take place neither in 2010 nor in 2011, although the governing body of the National Bank of Belarus has repeatedly spoken of a high availability transaction of purchase and sale of the bank.
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.