World Bank: Price surge and inflation not expected in Belarus

World Bank: Price surge and inflation not expected in Belarus

A price surge and inflation are not expected in Belarus. The World Bank approves the steps of the country on implementing structural reforms, reads a new WB economic survey as of November 2.

A reasonable macroeconomic policy and some reforms will give impetus to the economic development. The WB hailed the market mechanism of forming the exchange rate of the Belarusian ruble, introduced by the National Bank back in January 2015.

Meanwhile, some negative external effects still linger, associated with oil prices and the economic situation in Russia and Ukraine.

According to the experts of the World Bank, the entry of Belarus into the World Trade Organization can ensure a significant growth that will make it possible to expand the scope of sales markets and attract more foreign investments.

Young Chul Kim, World Bank Country Manager for Belarus:
We can observe a consistent monetary policy pursued by the Belarusian National Bank over the last 10 months. We did not notice the policy of expanding the money supply during this period. The National Bank continues to implement measures to control inflation and, as we can see, it also intends to follow this policy in the future. Therefore, a price surge and inflation growth are not expected.