Positive trade balance to ease currency pressure
According to data published on April 28th, Belarus’ international goods trade in March 2014 was positive at USD 44.5 mln – for the first time since July 2012. Pressure on the Belarusian ruble from enterprises is expected to decrease, administrative restrictions on imports will expand, planned industrial production indicators will be revised, credit support for exports will increase, and prices on export goods will be lowered in order to increase sales volume.
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.