Business news

MINSK, 21 February (BelTA) – Belarus Prime Minister Andrei Kobyakov suggested a set of measures to increase the average salary to $500 in Belarus by the end of 2017. “When working on the target to increase the wages to Br1,000 by the end of 2017, we must assume that the money should be earned. Income growth should be pegged to productivity growth. There will be no handouts of unearned money,” Prime Minister Andrei Kobyakov said at a meeting of the Presidium of the Council of Ministers to discuss the country’s social and economic development in January 2017 and measures to achieve the economic growth in Q1 2017, BelTA has learned.

The head of government emphasized that this target can be achieved through the creation of new jobs, new businesses, promotion of entrepreneurship, export growth and reduction of costs. “In the budget-financed sectors, salaries can be increased through optimization and through the growth of extra-budgetary income,” the prime minister noted.

“As for the Q1 performance, we cannot underperform. The result should be at least at the level of 2016. I am asking to communicate this message to all. The punishment for underperformance will be tough. We all are responsible professionals, and we realize that if we do not reach the minimum targets we have set ourselves, everyone will be held accountable. February and March should see tangible progress,” Andrei Kobyakov said.