According to the National Statistics Committee, in January 2016, industry’s net loss totalled BYR 15.5 billion, regardless of wage cuts to USD 328 and more lay-offs than hires by 2 787 people. The main reason for the losses was revaluation of foreign currency loans amid a decline in production volumes. Given the continued negative trend in the industry, further lay offs are on the way, more employees will work only a part-time, wages will fall below USD 300 and unprofitable enterprises will grow in number. Soon more than 40% of large and medium-sized enterprises may become unprofitable due to currency exchange differences, which will restrict their access to loans and deteriorate the situation with payments in the economy.
