Wage arrears continue to grow

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April 22, 2016 19:08

As of March 1st, 2015, 500 enterprises had wage arrears, totalling BYR 300 billion. In February 2015, the amount of debt increased by 75.8%. Due to the economic situation, wage arrears will continue to grow, including in private sector. Retail sales might reduce, the number of job seekers on the labour market might increase, and the population might increase the share of late payments for utility services and consumer loans.

 

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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.