Population becomes net seller of foreign currency
In January 2014 the population sold USD 99 million more cash currency than bought. This confirms the high level of devaluation expectations by Belarusians in late 2013. It also indicates that incomes shrank in January, forcing people to dip into their currency savings to maintain the current spending level. Most likely, in the future consumer spending and devaluation fears among the population will reduce.
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.