Opinions & Interviews

Lukashenko: Price regulation system will stay in place

MINSK, 28 March (BelTA) – Price control practices will stay in place in Belarus, President Aleksandr Lukashenko said as he was hearing a report on the performance of the banking system and measures to bolster foreign trade, BelTA has learned.

One of the major issues, which the head of state drew attention to, was about the system of price regulation in the country. The president reminded those present at the meeting that both the National Bank and the government were responsible for inflation and price growth in Belarus.

“On my instruction, the government has taken certain measures to take control of the pricing system in the country,” Aleksandr Lukashenko said. “I see that we manage to regulate prices and restrain them to a certain extent.”

“We will keep this practice in place. Price controls will be even strengthened,” the head of state emphasized. “This task has been set for the government. I ask the National Bank to keep it in mind as well and to do everything necessary to ensure that our people have no complaints regarding rising prices and inflation in the country.”

The president added that the government is not going to interfere and introduce price caps where it is not necessary, or, on the contrary, to watch unreasonable price growth without taking appropriate measures.

“We would like to develop a smooth price regulation system,” Aleksandr Lukashenko explained. “Some may like it or not, but I have made the decision, and it needs to be implemented.”

Chairman of the Board of the National Bank Pavel Kallaur reported to the head of state that the National Bank, the banking system in cooperation with the government ensure the fulfillment of the key tasks, price and financial stability, as well as the country’s economic development. According to him, there are no  issues that need to be considered at the level of the president: “We, together with the government, address all the issues in a calm and professional way.”

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