Belarus has record low inflation and positive outlook for the year

Inflation in late 2023 is planned within the given parameters – as noted by Belarus’ Deputy Economy Minister Andrei Kartun, commenting on economic results in H1

“Now there is a record low inflation. Last month we set a historical record, with inflation in annual terms standing at 3.7 percent. Now the figure is 2.9 percent.”

The Deputy Minister recalled that the inflation target this year will be 7-8 percent.

“Now inflation is below the target trajectory, with the so-called base also having a certain effect. In H2 2023, it will be more difficult for us to keep these figures. We expect to be close to the target parameters. And there are all the prerequisites that by the end of the year we will reach 7 percent.”