13 December 2017, Wednesday, 14:02

Expert: "Equalizing Wages" Can Lead To Flight Of Bankers From Country

As a result, the budget will not get the taxes that bank top managers pay from their incomes.

Trying to equalize the bank top management in salaries with government officials and National Bank heads, the authorities can provoke their flight from the country. Vadzim Yasub, a senior analyst of Alpari in Minsk, expressed such a point of view in conversation with Euroradio.

According to the analyst, commercial bank managers’ salaries and bonuses are not plucked out of the air.

"As a rule, bonuses are paid out of profits, that is, it is made money in any case. And secondly, they tend to be tied to certain efficiency coefficients," – Yasub says.

The implementation of the requirements to regulate the income of banking tops can lead to the flight of bankers from the country.

"Belarus is not the only country in the world. If we create uninteresting, uncompetitive working conditions for bank managers here, they will be led into temptation to leave for another country nearby, – Vadzim Yasub continues. – The outflow to other industries can hardly be massive. After all, a head of a bank is a specialist in a rather narrow sphere. Most likely, it is not even about a dismissal, but about transferring a part of income to the shade. In the end, it's technically easiest to implement such schemes for the banks."

As a result, the budget will not get the taxes that bank top managers pay from their incomes.

"I’ve thought over this question: if it is possible to find at least some advantage in these appeals to limit the "fat cats" in income. Honestly, I have not succeeded. This is a surprisingly wrong and even stupid solution from all points of view," – the expert adds.