In January 2014, Belarusian enterprises’ net profits were under EUR 190 million
In January 2014, Belarusian enterprises’ net profits fell by 31.6% over the same period in 2013.
The situation with settlements in the economy continued deteriorating, several enterprises have shortened their working hours, tax revenues have reduced, and the pressure on the National Bank to adjust the exchange rate and interest rate policy has increased. It is likely that control over profitable enterprises will increase, mainly in the private sector, in order to step up budget revenues. It would be reasonable to anticipate a reduction in the number of employed in the economy due to lower wages in various economic sectors.
President Lukashenka has met with the head of Chechnya Ramzan Kadyrov, who visited Minsk and the Minsk Automobile Plant. Minsk has always sought to have independent links with Russian regional elites, partially, to compensate for the Kremlin's diminishing interest in Belarus. In recent years, Belarus’ contacts with the Russian regions have been extremely intense. However, with some leaders of Russian regions, primarily heads of large republics, communication was more difficult to build. As many analysts in Minsk suggested, Minsk could regard contacts between President Lukashenka and the head of Chechnya as an additional communication channel for relieving tension in relations with the Kremlin. However, most likely, a trusting relationship with Kadyrov is a value for Minsk as such, provided Kadyrov’s broad business and political interests, and a high degree of autonomy for the Chechen leader from the Kremlin.