The inflation rate in Belarus can be reduced to 5% in the near future, Economy Minister Vladimir Zinovsky reported.
“The inflation target for 2017 is under 9%. However, the consumer price index rose at a slower pace, which gives reason to expect the inflation to trend around 7%. The most important thing is to make sure that our manufacturing enterprises and companies do not raise prices in the effort to cut costs. I am sure that we will manage to bring the annual inflation rate down to 5% in the near future. This means that the money that the economy will get will be much cheaper,” Vladimir Zinovsky noted.
The minister said that Belarus’ GDP forecast would not be revised during the year. The social and economic development forecast indicates that the government expects 1.7% GDP growth in 2017. In January-May, the country’s GDP went up by 0.9%. (BelTA/Business World Magazine)