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26 October 2022, 12:08

Belarusian pharmacies required to reduce prices as ruble strengthens

MINSK, 26 October (BelTA) – Belarus has introduced a requirement for business entities engaged in retail sale of medicines to reduce prices as the Belarusian ruble strengthens against foreign currencies, Dmitry Kalistratov, head of the Department of Entrepreneurship, Pricing and State Property at the Healthcare Ministry, told the media, BelTA has learned.

Belarusian President Aleksandr Lukashenko signed Decree No. 380, which amended Decree No. 366 of 11 August 2005 "On the formation of prices for medicines, medical products and medical equipment"."As foreign currencies strengthen against the Belarusian ruble, business entities engaged in retail sale of medicines usually raise prices for medicines. However, when the Belarusian ruble strengthens they never revise prices downwards. The president's decree brings justice to this matter. Thus, a business entity shall recalculate prices for medicines downwards when the Belarusian ruble strengthens against foreign currencies," Dmitry Kalistratov said.

He added that the new document also provides for an opportunity to revise prices for medical goods produced in the EAEU countries. "In connection with currency fluctuations, the import of medical goods produced in the EAEU countries creates exchange rate risks and might even cause losses for domestic importers. The decree eliminates these risks and provides for an opportunity to saturate the domestic market with medical goods made in the EAEU countries, which are often less expensive than similar goods imported from countries outside the EAEU," Dmitry Kalistratov concluded.

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