NUCLEAR POWER IN BELARUS AND WORLDWIDE
Reducing inflation in Belarus to 5% by 2020 is a difficult but doable task. Chairman of the Board of the National Bank of the Republic of Belarus (NBRB) Pavel Kallaur made the statement during the seminar held in the Council of the Republic of the National Assembly on 4 April to discuss topical aspects of Belarus' social and economic development, BelTA has learned.
The NBRB head said: “This year we have been experiencing pressure on prices caused by fiscal measures — in particular, taxation adjustments — and external shocks. Devaluation's effect is getting transferred to inflation. This is why it will be difficult to keep this year's inflation at 12%. Meanwhile, the Belarusian government will have to make some headway for the sake of getting one-digit inflation figures in 2017 and bringing down inflation to 5% in 2020. It is a difficult yet doable task.”
In his words, inflation determined by monetary factors will be limited to the level specified by this year's major monetary management guidelines. If the conditions are favorable, inflation in Belarus will be even lower. The National Bank of the Republic of Belarus has utilized all the monetary management instruments to make that happen.
