The Ministry of Trade will manually regulate settlements in trade
As of July 21, the chain of 177 stores of the retail outlet ‘Dobronom’ is suspended for 90 days for having delayed payments owed to suppliers. The volume of overdue payments of this commercial enterprise amounted to BYR 30 billion, which is less than 2% of the volume of overdue payments to suppliers in the entire retail trade. And the suspension of operation for 90 days will result in the bankruptcy of the retail chain. Actions of the Ministry of Trade will bring about the reduction of arrears to suppliers across all the retail chains but a number of smaller retail businesses will be forced to close or will be taken over by one of the chains. A reduction in the terms of payments between retail chains and suppliers of alcohol and tobacco is also possible. After the repayment of arrears and should there be no further violations, a retail chain will be allowed to continue to operate.
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.