Inflation rate in Belarus

04.11.2017

Belarus to amend monetary policy in 2018
Belarus to amend monetary policy in 2018 Belarus is planning to change its monetary policy in 2018. Within the October economic forum, the chairman of the National Bank of the Republic of Belarus Pavel Kallaur participated in a discussion dedicated to the issue. During the discussion he emphasized that the main aim of the National Bank today is the price stability. “Price stability is the main aim of the National Bank, and it has already been determined in the Bank’s Charter this year. We will be aiming at using monetary policy-inflation targeting”.

18.10.2017

Belarus' National Bank cuts refinancing rate to 11%
Belarus' National Bank cuts refinancing rate to 11% Belarus has again reduced the refinancing rate, already for the 8th time since the beginning of 2017. This is, among other things, because of low inflation, which is at only 2.7% in 2017, the best figure in the sovereign history of Belarus. From October 18, the refinancing rate in Belarus is 11% per annum.
Inflation in Belarus at 2.7% in 2017 so far, the best figure in sovereign history
Inflation in Belarus at 2.7% in 2017 so far, the best figure in sovereign history On October 17, the Council of Ministers said inflation in Belarus was at 2.7% as of September 2017, which is the best figure in the sovereign history of Belarus. The government discussed the economic development of the country from January to September 2017. Real incomes of the population increased during the reporting period, however, the schedule for increasing salaries was not fully implemented.

27.09.2017

Refinancing rate to decrease by another 0.5%
Refinancing rate to decrease by another 0.5% The refinancing rate of the National Bank of the Republic of Belarus is to decrease once gain. Minus 0.5% from October 15. This step is a reaction to the slowdown of inflation processes in Belarus. This is the eighths decrease of the refinancing rate from the beginning of 2017. At the moment the refinancing rate is 11.5%. This important figure influences not only the accessibility of funds of the real economy sector, but for all Belarusians as well. As a result, loans in banks will become more accessible.

14.09.2017

Alexander Lukashenko: No grounds for price growth in Belarus
Alexander Lukashenko: No grounds for price growth in Belarus There are no grounds for price growth in Belarus, said President Alexander Lukashenko on September 14, agreeing on the appointment of new leaders of local authorities. The Belarus President stressed that the heads of district executive committees will now have more powers, for example, during the harvesting campaign, but their responsibility also increases.

11.08.2017

Belarus National Bank forecast 2017 inflation at 7%
Belarus National Bank forecast 2017 inflation at 7% The National Bank of Belarus forecast the 2017 inflation rate at no more than 7%. In the previous quarter, the inflation rate in Belarus was 6.5%. Against this background, the Eurasian Development Bank improved its forecast for Belarus' GDP growth, taking into account the latest trends in the economy.  The National Bank at the same time sold bonds for 25 million euros. Given the demand, the next auction will be held in late August.

21.07.2017

Belarusian medicines more expensive than foreign ones?
Belarusian medicines more expensive than foreign ones? Analysis of drug prices conducted by the Ministry of Health reveals that a number of drugs are more expensive in the Belarusian market than those from neighboring countries. The issue of pricing in the market of medicines was raised during the recent working visit of the President to the Vitebsk region. People complained that some drugs cannot be bought because of the high cost. The head of state instructed to analyze this information.

28.06.2017

Refinancing rate to drop in Belarus from 19 July
Refinancing rate to drop in Belarus from 19 July On June 28, 2017 the National Bank of the Republic of Belarus announced that the refinancing rate is to drop once again. It will be the sixths decrease from the beginning of 2017. Stability on the currency market and, of course, low inflation, give the regulator a possibility to make such decisions.

17.06.2017

Alexander Lukashenko: Price formation in Belarus is on special watch list
Alexander Lukashenko: Price formation in Belarus is on special watch list After his working visit, Alexander Lukashenko spoke to the journalists. According to the results of a sociological research, price regulation is one of the topical issues which worries three quarters of Belarusians. President Lukashenko said that the situation with price formation in Belarus is on a special control list.

19.05.2017

Belarus President supports initiative on popular control over prices
Belarus President supports initiative on popular control over prices The Belarus President has supported the initiative of trade unions on people's control over prices. On May 19, this matter was discussed at the meeting of the head of state with the chairman of the Federation of Trade Unions, Mikhail Orda.

24.04.2017

Prices growth in Belarus: People's reaction
Prices growth in Belarus: People's reaction Price increases was one of the serious topics in the President's State of the Nation Address. The groundlessness of overcharging causes concern not only among buyers. The President is also displeased with that. Sugar prices have risen without any reasons, believes Alexander Lukashenko, and this could eventually stop domestic plants if cheaper goods from Russia pour into Belarus. The Minister of Antimonopoly Regulation and Trade was instructed to look into the issue.

21.04.2017

Belarus to continue price control practices, Alexander Lukashenko says
Belarus to continue price control practices, Alexander Lukashenko says The main task for 2017 is to bring the average salary to BYN1,000 but this money must be earned, not printed, said the Belarus President in his State of the Nation Address April 21. Increased productivity is the basis of salary growth, emphasized the head of state.

06.10.2016

Salaries in Belarus to increase by 9% in 2017
Salaries in Belarus to increase by 9% in 2017 Belarus' draft budget for 2017 has been adopted. In the second reading, the absolute majority of deputies voted for the draft of the main financial document. It will retain social orientation. One-third part of the budget will be earmarked for state programs: in education - for the development of innovative approaches, while in health care focus will be made on affordability and quality. Payroll fund will increase by 9%, while labor pensions will be increased twice.

11.09.2016

No more utility price increases in Belarus in 2016, President Lukashenko promises
No more utility price increases in Belarus in 2016, President Lukashenko promises This morning, the Belarus President took part in the elections to the House of Representatives of the National Assembly. The head of state came to the polling station, located at the Belarusian State University of Physical Culture, together with his youngest son Nikolai. The head of state was awaited here by numerous journalists. After the President voted, he stopped for a while to answer questions from the media. One of them concerned the cost of housing and communal services.

16.08.2016

President Lukashenko promises no price growth in Belarus
President Lukashenko promises no price growth in Belarus The Belarus President believes that one of the main tasks for the state is to provide people with jobs. The Head of State said this communicating with Malorita residents. Another topic raised was price increases. It should not be allowed, Alexander Lukashenko is sure. Alexander Lukashenko, Belarus President: The main thing is not to allow imbalanced prices. When there is no opportunity to raise salaries, prices must not increase either. If this is the case, this is a big drawback.

20.07.2016

Redenomination in Minsk has not lead to price increases
Redenomination in Minsk has not lead to price increases The July 1 redenomination has not lead to higher prices in the Belarus capital. Labels in stores are under control. Minsk trade services are monitoring the situation in all trade pavilions weekly. 16 officials in Minsk have been fined since the beginning of 2016 for violation of the price and antitrust laws. Among the major violations is exceeding the maximum limit of trade margins in respect of socially important goods.

19.06.2016

Alexander Lukashenko at Spartak factory: Belarus to finally reconstruct entire health care and education in 2016-2020
Alexander Lukashenko at Spartak factory: Belarus to finally reform entire healthcare and education system in 2016-2020 Before building plans for the future and listening to people's delegates, the Belarus President made a trip to the Gomel region. In principle, this is usual practice when the President personally gets familiar with the situation in Belarus’ regions and meets with labor collectives. This time he met with Spartak factory workers. Alexander Lukashenko wanted to see whether the life of the working class is “sweet”. And before starting the “economic locomotive” for the next five years, the President opened the Gomel-Minsk route for electric traction trains.
Redenomination in Belarus not to cause higher inflation
Redenomination in Belarus not to cause higher inflation, President Lukashenko says On June 17, the Belarus President visited the Spartak confectionary. Here the head of state spoke about the prospects of development of the enterprise, as well as the innovations in confectionary industry.  Products under the brand name "Spartak" are exported to 25 countries. Chocolates, waffles, and biscuits made in Gomel have reached such distant countries as Singapore, South Africa and Australia. Spartak sees great prospects on the Chinese market too.

22.02.2016

Price increases should first be compensated by rising incomes, Belarus President says
Belarus President dismisses Gaidar-style reform proposals Alexander Lukashenko is angered by the situation with the tariffs for housing and communal services. This was the main topic of the February 22 meeting to discuss taxes and excise policy in 2016. The meeting participants also talked about the growth of prices for food, fuel and public transportation. They also discussed issues of privatization. The President noted that the government's proposals to amend the privatization of state property system cannot be accepted.

24.01.2016

Will financial market woes stir up prices in Belarus?
Will financial market woes stir up prices in Belarus? There will be no sharp rise in prices in Belarus, said the Ministry of Trade January 21 explaining that there are no apparent reasons for this: the market is supplied with enough goods and a very strong competition is between retail chains, which will guarantee absence of unreasonable price hikes.

12.01.2016

Irina Novikova, Doctor of Economics
Inflation in Belarus set to remain at 12% in 2016 Under the influence of external factors, inflation level in Belarus in 2016 should remain at the same level as in 2015 - 12%. Experts do not predict a sharp rise in prices in Belarus in 2016.  The highest growth rate in 2015 was in paid services followed by non-food products (+11.5%). Food prices are rising at roughly the same level. Experts note that the economic situation in the country will largely depend on the situation on foreign markets. All eyes are on the cost of oil and the situation in countries that are major trading partners of Belarus.

20.12.2015

Belarus' 2016 budget overview
Belarus' 2016 budget overview The Belarusian parliament adopted the 2016 budget on December 18 evening. This year, the deputies had to take into account a lot of negative external factors.
National Bank of Belarus
Belarus' monetary policy guidelines 2016 The Belarus President has approved the main directions of the monetary policy of Belarus for 2016. The corresponding decree was signed by the Head of State on 18 December. The main goal is to reduce inflation to 12%. Belarus will conduct a flexible exchange rate policy, which means dynamism of the exchange rate on the basis of supply and demand in the foreign exchange market.

18.11.2015

Belarus' 2016 budget to maintain socially oriented nature
Belarus' 2016 budget to maintain socially oriented nature The national budget for 2016 will maintain social nature. Today, November 18, Belarus' MPs began to discuss drafts of the budget law. The underlying factors in the formation of the budget are the timely repayment of external loans, the reduction of inflation and output growth.  External factors influenced the content of the main financial document of Belarus to a great extent. First of all, we are talking about oil prices.

13.09.2015

Pavel Kallaur, chairman of the Belarus National Bank
Chief of Belarus National Bank Pavel Kallaur about exchange rates, loans and foreign exchange reserves India! China! Russia! Small Belarus has many big friends. Belarus is affected sometimes by their great successes and big problems! For example, Belarusian money weakened after decline in oil prices and Russian ruble rate. We will talk about the exchange rates, loans, gold reserves and financial risks of Belarus with the chairman of the National Bank. Pavel Kallaur is in the studio of Picture of the World with Yuri Koziyatko. Yuri Koziyatko, host of "Picture of the World": Hello, Mr Kallaur!

02.09.2015

Belarus wants inflation less than 10% by 2017
Belarus wants inflation at less than 10% by 2017 Belarus plans to achieve one-digit level of inflation by 2017, reads an anti-inflationary program approved by the joint decision of the Cabinet of Ministers and the National Bank of Belarus No733/17 as of 31 August 2015, BelTA learned from the press service of the Belarusian government.