$200: Dismal outlook for average salary in Belarus

The average salary in January-November 2015 amounted to 6,656,500 Belarusian rubles ($ 366.7). Yaraslau Ramanchuk, head of the Scientific Research Mises Center in Minsk, is pessimistic about the pay level in 2016.

“The year will be so complicated that, a pay cut to $200 will become the worst scenario, taking into account exchange rate trends, the sharp decline of oil revenues, as well as the fact that a part of entrepreneurs might lose their work,” the expert said.

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According to Ramanchuk, entrepreneurs should demand equal economic management coditions for public and private business, development of financial markets, the creation of platforms for dialogue between business and government, reduction of tax and regulatory burden, elimination of dependence on old technology, expanding the scope of market relations and cutting state programs .

The current situation bears a strong resemblance to that of the 90s, when the country was at a crossroad and the authorities were facing the question “What is to be done?” the economist stresses.

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In his opinion, the government and businessmen need to join forces to develop an anti-crisis strategy. Business owners should take part in need to log in governmental agencies’ activity, Ramanchuk added.



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