Sunday, December 7, 2008

Belarus Devolving the Costs lowered wages.

The Government of Belarus reduced the tariff rate first class, which is used to pay the organizations financed from the budget. According to the information agency Interfax-West, from December 1, the rate lowered to 15.4 percent.
To learn how to change rates confirmed the country's economy, Deputy Minister Andrei Tur. "Yes, we have reduced wages" - he said. According to him, such a decision due to the deteriorating external economic environment and corresponding reduction of income coming into the budget.
As the agency, referring to the text of decree 1818, the Government on 29 November, the tariff rate of first class on 1 December is 77 thousand rubles (about 36 dollars). It repeals the Decree of October 5, on which the tariff rate was increased to 24.7 per cent: from 73 thousand to 91 thousand rubles (42.5 to the dollar).
Deputy Minister of Economy confirmed that the recommendation to reduce wages have been nominated by the International Monetary Fund, to which Belarus has agreed on a major loan. At the same official said that these recommendations were not the key issue. "
As previously reported, on 15 December between Belarus and the IMF will begin a second round of negotiations for the loan of two billion dollars. The authorities of the previously stated that the need of those funds as "security cushion" in a global economic crisis. Commenting on the negotiations, the first deputy chairman of the National Bank Pavel Kallaur said that the main difficulty is a difference of approaches to assess the situation in the republic. "With the IMF the main problem is that you can make calculations based on the mission, you can - his vision," - he said. According to him, "blindly accept the economic calculations of the IMF" the Belarusian side does not intend to.

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