Companies suspend work due to situation on currency market

Many Belarusian companies want to suspend work until the situation on the currency market improves.

It can be concluded from the results of an opinion poll among companies, BelaPAN learnt from Zhanna Tarasevich, the director of the Business Union Entrepreneurs and Employers named after Prof. Kuniavski.

“According to the poll, most entities are going to suspend work, cut supplies or suspend sales, because no one knows what to expect next,” Zhanna Tarasevich noted.

The results of the poll show that many companies plan to optimise the number of staff, the business union director says.

“Companies plan to reduce the number of employees to pay decent salaries to the remaining staff. Some companies are going to diversify their business due to the current situation,” the business union director says.

She expressed the hope that the government would finally solve the situation on the currency market and allow plants to return to normal work. “I hope the government and business community will find a joint solution that would be acceptable for all,” Tarasevich noted.

Last week, six Belarusian business unions sent a letter to government bodies, including the administration of Lukashenka, due to the situation on the foreign exchange market.

According to the letter, the 30% duty on purchasing foreign currency and an increase in the mandatory selling of foreign incomes from 30% to 50% “significantly changed conditions for economic activities for most business organisations”. Business unions say that most companies have a negative attitude towards the measures taken on the currency market.

Leaders of Belarusian business unions turn attention to the fact that the 30% duty on purchasing foreign currency must be paid from the net profits. “It's a perversion to pay the duty in such a way,” Viktar Marhelau, the co-head of the Republican Business Confederation, said.