Inflation in Belarus may reach 10% in 2020 – government
<p> MINSK, Nov 2 - PrimePress. Inflation in Belarus may reach 10% by the end of 2020, Prime Minister of Belarus Roman Golovchenko told reporters after delivering an economic report to the head of state on November 2, 2020. </p> <p> </p> <p> Inflation was at 0.9% in September 2020; 4.7% in January-September 2020. The official inflation forecast for 2020 is at or below 5%. In October, the National Bank downgraded the forecast to 6%. </p> <p> </p> <p> According to Golovchenko, a single-digit (up to 10%) inflation rate can be considered a good result. He linked the rise in the inflation forecast to the fall of the Russian ruble exchange rate, its impact on the prices of goods imported to Belarus, and fluctuations of the national currency exchange rate. </p> <p> </p> <p> “We are closely watching what is happening in the price market and are taking action. But, of course, direct price administration is a bad practice. There are commodities, the prices of which are controlled and regulated by the state,” he said. </p> <p> </p> <p> According to the National Bank, the main factors behind the acceleration of inflation in Belarus were a decrease of the Belarusian ruble rate against the backdrop of increased inflationary and depreciation expectations. End </p>
2020-11-03
Primepress
Inflation in Belarus may reach 10% in 2020 – government
MINSK, Nov 2 - PrimePress. Inflation in Belarus may reach 10% by the end of 2020, Prime Minister of Belarus Roman Golovchenko told reporters after delivering an economic report to the head of state on November 2, 2020.
Inflation was at 0.9% in September 2020; 4.7% in January-September 2020. The official inflation forecast for 2020 is at or below 5%. In October, the National Bank downgraded the forecast to 6%.
According to Golovchenko, a single-digit (up to 10%) inflation rate can be considered a good result. He linked the rise in the inflation forecast to the fall of the Russian ruble exchange rate, its impact on the prices of goods imported to Belarus, and fluctuations of the national currency exchange rate.
“We are closely watching what is happening in the price market and are taking action. But, of course, direct price administration is a bad practice. There are commodities, the prices of which are controlled and regulated by the state,” he said.
According to the National Bank, the main factors behind the acceleration of inflation in Belarus were a decrease of the Belarusian ruble rate against the backdrop of increased inflationary and depreciation expectations. End