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1 Apr 2020

Belarusian government curbs price growth to 0.5% per month

Belarusian government curbs price growth to 0.5% per month
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MINSK, 1 April (BelTA) – The Council of Ministers has issued resolution No.184 of 30 March 2020 on temporary measures to stabilize the situation on the consumer market, the press service of the Belarusian government told BelTA.

The Architecture and Construction Ministry, the Healthcare Ministry, the Forestry Ministry, the Industry Ministry, the Agriculture and Food Ministry, the state light industry concern Bellegprom, the timber, woodworking, pulp and paper industry concern Bellesbumprom, the state food industry concern Belgospishcheprom, the state petrochemical concern Belneftekhim, other central government agencies, and other state organizations accountable to the central government, the oblast administrations, and the Minsk City Executive Committee are hereby instructed to prevent prices for goods sold and services offered by the organizations accountable to them from rising beyond 0.5% per month. They are also instructed to ensure merchandise deliveries to the retail industry to satisfy the domestic demand. Legal persons of all kinds and self-employed businessmen that make, import, and sell goods on the home market or offer services are also supposed to keep price growth down to 0.5% per month.

A price increase beyond the specified limit can be authorized by the commission for the state regulation of pricing under the Council of Ministers. Apart from that, government agencies (organizations) that regulate prices (tariffs) in accordance with the law may not raise them without the commission’s authorization.

The Antimonopoly Regulation and Trade Ministry, the oblast administrations, and the Minsk city administration have been instructed to monitor the observance of the regulation and make sure the choice of merchandise in retail outlets meets the government regulations.

The resolution comes into force as of the publication date and will stay in effect till 30 June 2020.

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