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Are bankers' salaries in Belarus too high?

Salaries of bankers must be earned honestly, said Belarus President Alexander Lukashenko during a meeting on the state of affairs in the banking sector. The salary in the banking sector, according to the President, should be calculated according to the same principles as in other spheres. The President also cited ordinary Belarusians calling bankers “fat cats”.

It should depend, first of all, on the welfare of the country, the economic performance of the work and the effectiveness of management. After all, the money attracted by banks for the most part belongs to individuals and enterprises. The existing system of bonuses in some organizations allows unreasonably inflating salaries.

Alexander Lukashenko, President of Belarus:
If we are talking about the material support of bank employees today, you should know my position: the richer the people in the country, the better for the President. But we know the reality in which the people of Belarus live. Today no one lives very well, we have difficulties in achieving even the $500 bar, so let's match these figures in the banking sector, too. That is, salary should always be earned honestly, as bankers say. I support them in this.

Secondly. I do not write to me, including the government, the Presidential Administration, the National Bank, about the salary and bonuses. Are bonuses not wages? Is this not money? You can thus build a system when you get little money as a salary but live very well thanks to enormous bonuses. Let's look at how it will work in total. I have just talked about the level of wages in the country.

I would like the banking system not to be, I quote the people, "a bunch of fat cats" (if you do not read this, I can give you what people say, both workers, peasants and even people with higher education.

We have recently built a system describing all the wages for civil servants, after optimizing their number. From the prime minister to the chairman of the village council - everything is clear. If there are layoffs somewhere, please take the free money and distribute among the remaining staff. The banking system must adopt these rules, too.

During the report, the general situation of the credit and financial sector was also discussed. In recent years, the sector's achievements have been noted by experts both domestically and at international organizations.

Are bankers' salaries in Belarus too high?