Belaruskali closed deal with India
On May 22nd, Belaruskali’s CEO announced that a deal with India had been closed to supply 500 tons of potash fertiliser at USD 322 per ton.
The contract will ensure that Belaruskali earns enough foreign currency, utilises additional capacity (currently almost fully loaded), and will require additional shipping capacity, which will improve the Belarusian railway’s financial health. The contract is expected to improve chemical industry’s production indices, which, in turn, will create favourable conditions for improving the GDP dynamics in H2 2014.
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.