Government promises inflation of up to 10%. Economist: standard of living to decrease

The Belarusian government has adopted an anti-inflation programme. The inflation rate is supposed to be less than 10% in 2017. It will be the top priority for all local authorities, the programme says.

The 10% inflation will be possible in 2017 and the National Bank and government can do it, economist Leanid Zlotnikau believes. However, it means that people’s wages will decrease.

 

Leanid Zlotnikau: "It depends on the government, National Bank and money supply regulation. If the government says that we have to live within our means, there will be no inflation but the standard of life will go down. If we get a credit, the standard of life will be kept for a few more months.”

The inflation rate totalled 7.5% in the first seven months of 2015. It reached 16.2% in 2014.

Photo: prostoinvesticii.com