Price ceiling in Belarus likely to cause commodity shortages – EDB
<p> MINSK, Feb 26 - PrimePress. The long-standing restriction on rises in prices of socially important goods in Belarus increases the likelihood of shortages of some goods and accelerated increase in prices of goods that are not considered essential, the Eurasian Development Bank (EDB) says in the comment posted on its Telegram channel. </p> <p> </p> <p> The Belarusian government limited increases in prices of socially important goods of prime necessity by 0.2% per month from March 1, 2021. This concerns a large number of foods and medicines. </p> <p> </p> <p> “The decision is likely due to the persistence of high inflation at early this year–7.7% year-on-year in January after 7.4% in December 2020. The prolonged application of such measures increases the likelihood of shortages of some goods and accelerated increases in the prices of goods not classified as socially important essentials. The EDB estimates that inflation in Belarus will remain in the range of 8-8.5% yoy in February-March and will remain above 7% yoy until October 2021,” reads the statement. </p> <p> </p> <p> The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB charter capital totals US $7 billion. The bank’s member states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. End </p>
2021-02-27
Primepress
Price ceiling in Belarus likely to cause commodity shortages – EDB
MINSK, Feb 26 - PrimePress. The long-standing restriction on rises in prices of socially important goods in Belarus increases the likelihood of shortages of some goods and accelerated increase in prices of goods that are not considered essential, the Eurasian Development Bank (EDB) says in the comment posted on its Telegram channel.
The Belarusian government limited increases in prices of socially important goods of prime necessity by 0.2% per month from March 1, 2021. This concerns a large number of foods and medicines.
“The decision is likely due to the persistence of high inflation at early this year–7.7% year-on-year in January after 7.4% in December 2020. The prolonged application of such measures increases the likelihood of shortages of some goods and accelerated increases in the prices of goods not classified as socially important essentials. The EDB estimates that inflation in Belarus will remain in the range of 8-8.5% yoy in February-March and will remain above 7% yoy until October 2021,” reads the statement.
The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB charter capital totals US $7 billion. The bank’s member states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. End