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Lukashenko demands urgent reversal of rising inflation trend

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MINSK, 9 September (BelTA) - The trend of rising inflation must be urgently reversed, Belarusian President Aleksandr Lukashenko said at a meeting with the management of Belarus’ National Bank and the heads of commercial banks on 9 September, BelTA has learned.

The head of state outlined the main tasks facing the domestic banking and financial system. According to the head of state, they are fairly traditional, and it is unlikely that any new directions can be discovered here, which, however, does not make them any less significant.

The president emphasized that the primary task for the National Bank and the entire system is maintaining price stability.

As of now, the year-on-year growth rate of consumer prices compared to July 2024 has already reached 7.4%. In August, inflation decreased by 0.3% but still exceeds the annual target of no more than 5%.

“The trend of rising inflation must be reversed,” the head of state urged. “The role of the National Bank in this process is still barely visible so far. We need stable, predictable financial environment for businesses and the population.”

“Low inflation is needed by our enterprises for planning long-term investments. And for people - so that their purchasing power does not fall and their incomes and savings are not devalued,” Aleksandr Lukashenko explained.

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