Wage arrears in 2016 may exceed maximum values of 2015

According to the National Statistics Committee, on January 1^st, 2016, 141 Belarusian organization had wage arrears to workers with a total worth of BYR 60.5 billion. In December 2015, wage arrears diminished due to the allocation of budgetary funds and settlement of government contracts in the economy. Wage arrears are likely to grow due budget austerity measures; some enterprises will keep a short working week due to the lack of orders and insufficient funds to pay wages to workers. Workers are likely to file more appeals to the state authorities complaining about wage arrears and payment delays by their employers. In 2015, the maximum value of overdue loans totalled BYR 411,7 billion; in 2016, this value is likely to be exceeded as a result of further deterioration of the situation in the industry and deterioration of settlements between enterprises.