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Economy
06 December 2021, 10:58

PM: Outstripping growth in household income in Belarus despite inflation

An archive photo
An archive photo

MINSK, 6 December (BelTA) – Despite the inflation, Belarus has achieved an outstripping growth in household income, Prime Minister Roman Golovchenko said on the air of Belarus 1 TV channel, BelTA informs.

“We set a target for this year [inflation forecast] at 5%. This is a fairly comfortable level. We are still struggling to keep the inflation in check. The reasons for this are well known - imported inflation and hence the transfer of manufacturing costs into product prices. Food prices, according to the Food and Agriculture Organization, increased by more than 30%. This pertains not only to finished goods on the shelves, buy also to all raw materials. We spent a lot of time trying to curb uncontrolled inflation. In other words, we understood what we could change and what we could not,” Roman Golovchenko said.

The prime minister recalled that an anti-inflation program was approved in Belarus. “We are working on it in collaboration with the National Bank. We are going to use a certain set of tools. But it is important that despite inflation we were able to ensure the outstripping growth in household income. Real money income is now in the positive zone at 2.6, and the average salary at 4.8, that is, household income is growing faster than prices, to put it simply. Sometimes I just wonder how much fake information influences decision-makers. After all, the Western government that is introducing another round of restrictive measures has very little understanding of what is happening here [in Belarus]. They do not receive reliable information from their diplomats. They communicate with people who have long lost contact with their homeland,” the head of government said.

Roman Golovchenko added: “We are not perfect. We have problems. We know our bottlenecks. But we are doing everything to remove them. Whatever the difficult situation, we will cope with it.”

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