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2 Nov 2015

WB forecasts no price hikes in Belarus

MINSK, 2 November (BelTA) – No jumps in prices are expected in Belarus, Young Chul Kim, World Bank Country Manager for Belarus, said at the presentation of a new economic review on Belarus on 2 November, BelTA informs.

“Over the past 10 months we have seen a relatively consistent monetary policy pursued by the National Bank. We have not registered any expansion of the money supply that was specific for the earlier period. The National Bank continues its policy of inflation targeting and, as we see, intends to stick to it in the future. That means no price hikes are expected,” said Young Chul Kim.

He noted that the macroeconomic stability and adjustment is a preliminary and obligatory prerequisite for structural reforms.

According to the World Bank’s new review, the growth of the consumer price index will be 17% in 2015, 15.2% in 2016, and 13% in 2017.

Earlier the National Bank suggested that the inflation in Belarus will not exceed 18% plus or minus two percentage points in 2015.

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