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06 October 2022, 11:04

Lukashenko expects effective proposals from government, central bank to curb prices

MINSK, 6 October (BelTA) - The government and the National Bank are expected to make effective proposals to restrain price growth, Belarusian President Aleksandr Lukashenko said at a government meeting to discuss economic matters in Minsk on 6 October, BelTA has learned.

The situation with prices was the key item of the meeting of the head of state with the government and the National Bank. At the macroeconomic level, this is called inflation, and at the microeconomic level, people feel it when they see prices rise in stores. In January-August of this year, the rate of inflation was 13.8%. The government expects the inflation in the country at 19%.

"The Council of Ministers and the National Bank should have responded to such high inflation with tough measures to restrain prices. I mean, 13-14% is no good at all. Those who should deal with inflation should have reacted,” the Belarusian leader stressed. "Rising prices negate all our efforts to raise wages and pensions." According to him, real incomes of the population fell below the level of last year, by about 3%.

"Real incomes of households, care for the people… Whose concern is it, except for the president? Yours, Natalya Ivanovna [chairwoman of the Council of the Republic Natalya Kochanova] and the House of Representatives," the president said. In his opinion, MPs have been underperforming in this regard so far.

"Today we need to thoroughly understand the causes of the current situation, both objective and subjective, and make a final decision. I expect effective proposals from the government and the National Bank to restrain price growth," Aleksandr Lukashenko said.

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