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28 Apr 2018

Call to reduce inflation in Belarus to 3-4% by end 2020

ZHITKOVICHI, 28 April (BelTA) – The goal for Belarus is to reduce its annual inflation to 3-4% by the end of the ongoing five-year period, Belarus President Alexander Lukashenko said at a meeting in the Zhitkovichi District Executive Committee on 28 April, BelTA has learned.

According to the head of state, there are no grounds to price growth in Belarus. “Prices should be kept under control,” the president added.

“This year’s inflation is projected at 5-6%. Next year it is forecast at 4-5%. We should reach the inflation of 3-4%. We do not need it at the level of 1.5% as in Europe, or the United States. We are still feeling out the market to determine the prices profitable for our manufacturers. So we are okay with the inflation running at 3-4% by 2020,” the Belarusian leader said.

Alexander Lukashenko also emphasized the importance of competition in trade to avoid monopoly. The head of state added that everyone should work in equal conditions and follow clear rules.

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