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Deputy Minister Of Finance: Workers Of Loss-Making Enterprises Stand In Our Development’s Way

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Deputy Minister Of Finance: Workers Of Loss-Making Enterprises Stand In Our Development’s Way
MAKSIM YERMALOVICH

The official “advised” the workers of the loss-making enterprises to take loans and start their own businesses.

Deputy Minister of Finance of the Republic of Belarus Maksim Yermalovich has told Nasha Niva on the sidelines of the forum “Expanding Horizons: Investments, Finances, Development” when the Belarusian economy will become independent from the foreign power resources and release the burden of the loss-making state-owned enterprises.

“We have an opportunity to substitute the dependence you are talking about by ourselves,” — Yermalovich has told, — that is why the development of not just the IT sector, but the small and medium businesses as well, remain the top priority of the state”.

The conversation has immediately switched to the point that, even given the successful development of private and small initiatives, a considerable part of their taxes goes not for the development, but for dotations to the loss-making enterprises.

The Deputy Minister admitted that the state cannot give up big industrial giants today, as they set up the basis of our whole economy, so there is an urgent need to think about the destinies of the small loss-making enterprises and consider reasonable distribution of the state resources, which should be directed to more profitable spheres.

Still, what is the reason for that some earn billions in Belarus while others cannot even make their work pay off?

“The social factor remains the key problem and the most powerful force which holds us back in terms of development and moving forward, — Yermalovich has said, meaning the employees who do not meet the requirements of the modern market. —A person should have a job and a place to live; this is the main principle of our economy and the state support system. Sometimes the social orientation affects the effectiveness of a business. This doesn’t mean that the aim should be achieved by any means. The system remains as it is today. I believe the most important mission in the current agenda of economic transformations is building the support system which would help people move from the one, less profitable sector of the economy, to another, more successful one. There is a concept of how to make it happen. We are elaborating the legislative measures for improving the mechanisms of re-training of an employee in case they are no longer useful at their usual workplaces or do not get the desirable profit there. This process should be simplified.”

The Deputy Minister has added that the simplest way to achieve that is to open a business having taken a loan provided by the Belarusian banks with the support of the international institutions.

However, for those people who have reached a certain age threshold and are nor brave enough or lack talents for opening a business of their own, the necessary conditions for transferring from the loss-making enterprises will be created.

“Firstly, if a person is 40, they should know where to go themselves. We will not take their hands and lead from one enterprise to another, although this sounds an ultimate aim. If they are incapable of earning money with their specialties they should go through the re-training procedure given their skills. The re-training to adjust to another sector of the economy will take 3 to 6 months. However, it is very important that such scheme is backed by investments, to build up an economic base, so that a person would proceed to a higher salary, this is our primary goal,” — Maksim Yermalovich has summarized.

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