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16 Oct 2018

PM: Inflation in Belarus will stay below 6% in 2018

PM: Inflation in Belarus will stay below 6% in 2018

MINSK, 16 October (BelTA) – The inflation in Belarus will hover around the 6% target in 2018, Belarus Prime Minister Sergei Rumas told the media after the meeting with head of state Alexander Lukashenko on 16 October, BelTA has learned.

“The inflation will stay below 6% this year. We expect it to drop to 5% next year,” the prime minister noted.

“At present there are no negative factors that could prevent us from achieving our inflation targets,” he said.

As BelTA reported earlier, the Eurasian Development Bank supported the expectations of the Belarusian government. The bank’s monthly macroeconomic review for September reads that the inflation in Belarus will remain within the target benchmark recommended by the National Bank in 2018.

Given the increasing inflation risks from the external sector, Belarus’ National Bank kept the refinancing rate unchanged at 10% in September. According to the central bank, the refinancing rate is close to neutral and will contribute to keeping the inflation close to 5% in the medium term.

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