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Minister: Inflation in Belarus should not exceed 6% in 2024

MINSK, 29 August (BelTA) - Inflation in Belarus should not exceed 6% in 2024, BelTA learned from Economy Minister Aleksandr Chervyakov on 29 August, BelTA has learned.

The draft social and economic development forecasts, monetary policy targets and the national budget for 2024 are on the agenda of the Council of Ministers’ meeting today.

“We have drafted the head of state’s decree, which will determine the main milestones of our country's development in 2024. We plan that the economy will grow by 3.8%. This is higher than the growth projected by our trade partners and global growth in general. For such growth, we will need to invest about Br47 billion (up 3.9%) in our sectors and enterprises. Products and services are to be sold to foreign markets to the total amount of $53 billion (up 7.6%),” Aleksandr Chervyakov said.

According to him, such volumes of exports and GDP will ensure the growth of real household incomes by 3.5%. Wages will grow in real terms. “In order to ensure income growth according to the plan, inflation should not exceed 6%. We will be actively working in this direction,” the minister said.

A target plan has been developed to achieve these parameters. Its basis is made of three programs: production, investment and export.

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