While practicing manual regulation of prices, govt needs to prevent shortage of goods - MART chief
<p> MINSK, Apr 1 - PrimePress. With manually regulated prices, the “delicate issue” is to avoid shortages of goods, Minister of Antimonopoly Regulation and Trade of Belarus Vladimir Koltovitch told journalists on April 1. </p> <p> </p> <p> “It is expensive to violate the law on prices because retailers will face significant penalties. In 2020, fines for price regulation violations amounted to about Br230 thousand ($87.7 thousand at the rate of National Bank of Belarus). In this difficult economic period, we have come to the conclusion that price regulation is, most likely, a necessity, so that everyone involved in the chain - from producers to the shop counter - would not overestimate their expectations and play on possible shortages,” Koltovych said. </p> <p> </p> <p> In addition, he said, inflation is affected by three factors: the exchange rate, global food prices and inflation in Russia. </p> <p> </p> <p> As previously reported, Belarus’ government approved resolution #100 of February 23, 2021, limiting the growth of prices of essential goods by no more than 0.2% per month from March 1, 2021. The lists of such essentials include 62 types of foodstuffs and consumer goods, as well as 50 types of Belarusian-made medicines. </p> <p> </p> <p> As previously reported, inflation in Belarus in February 2021 was 1.9%, while in January-February - 3.1%. In February 2021, prices rose by 8.7% year on year, and by 8.2% year on year in January-February 2021. The authorities expect year-on-year inflation at 5% in late Dec 2021. End </p>
2021-04-02
Primepress
While practicing manual regulation of prices, govt needs to prevent shortage of goods - MART chief
MINSK, Apr 1 - PrimePress. With manually regulated prices, the “delicate issue” is to avoid shortages of goods, Minister of Antimonopoly Regulation and Trade of Belarus Vladimir Koltovitch told journalists on April 1.
“It is expensive to violate the law on prices because retailers will face significant penalties. In 2020, fines for price regulation violations amounted to about Br230 thousand ($87.7 thousand at the rate of National Bank of Belarus). In this difficult economic period, we have come to the conclusion that price regulation is, most likely, a necessity, so that everyone involved in the chain - from producers to the shop counter - would not overestimate their expectations and play on possible shortages,” Koltovych said.
In addition, he said, inflation is affected by three factors: the exchange rate, global food prices and inflation in Russia.
As previously reported, Belarus’ government approved resolution #100 of February 23, 2021, limiting the growth of prices of essential goods by no more than 0.2% per month from March 1, 2021. The lists of such essentials include 62 types of foodstuffs and consumer goods, as well as 50 types of Belarusian-made medicines.
As previously reported, inflation in Belarus in February 2021 was 1.9%, while in January-February - 3.1%. In February 2021, prices rose by 8.7% year on year, and by 8.2% year on year in January-February 2021. The authorities expect year-on-year inflation at 5% in late Dec 2021. End