Posted:
13.10.2022 10:38:00
The President introduced a ban on price increases in Belarus
“The Council of Ministers and the National Bank should have responded to such high inflation with tough measures to restrain prices. Rising prices negate all our efforts to raise wages and pensions. The task number one is to ensure 7-8 percent inflation next year,” emphasised the President.
There are objective factors that influence the price growth. Due to the thoughtless sanctions imposed by Western countries, the usual pattern of world trade has been disrupted, the Head of State said. As a result, inflation rates are hitting records all over the world.
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“For some reason, importing companies continue hedging exchange rate risks by inflating prices, although the exchange rate of the Belarusian ruble is stable. Responsibility for the reasonableness of import prices should be introduced, and a control system should be established,”
Aleksandr Lukashenko highlighted.
The Head of State also mentioned some businessmen, “First, they raised the prices because of the increased exchange rate, and when our currency strengthened, they ‘forgot’ for some reason to lower the prices. Speculators easily profit from disruptions in the supply chain. The State Control Committee has been reporting facts when apples, onions, beets and cabbage, grown by our agricultural enterprises, are bought from mediators with a 300 percent markup!
Aleksandr Lukashenko is convinced that in such a manageable compact country as Belarus, the power vertical is absolutely capable of restoring order and ensuring a fair treatment of people by the state and supporting and helping those who need it.
At the same time, the President harshly warned “We do not have and will not have a shortage of goods. I promise this to people.”
Following the meeting, the President announced his decision: from October 6th any increase in prices is prohibited.
Aleksandr Lukashenko explained, “Prices are exorbitant today. They hit the ceiling. Prices cannot be raised anywhere. There is no need for that. Yet there may be exceptions. These exceptions are under the control of the minister and the governors.”
The President also emphasised that he is not afraid of criticism for these decisions, because the most important thing is to pursue a fair policy.
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The President of Belarus signed Directive No. 10 ‘On banning price rises’ following a government meeting held on October 6th
The document was adopted in order to immediately and firmly respond to the current situation in the consumer market. In order to protect the interests of citizens and organisations of the Republic of Belarus, to prevent further price growth, establish an effective system of price control and saturate the domestic consumer market with goods the directive imposes a ban on price increases and obligations to unconditionally saturate the domestic market with goods and services.
To develop measures to regulate prices, a working group headed by Chairwoman of the Council of the Republic of the National Assembly Natalya Kochanova was created. The working group has been tasked with drawing up a list of proposals on measures to improve price regulation and submit it to the Council of Ministers within ten days.
Before October 20th, 2022, the government shall approve and implement a price regulation system on the basis of the proposals submitted by the working group.
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The government of Belarus has introduced a moratorium on increasing prices and tariffs in the domestic market
The corresponding resolution was signed by Prime Minister Roman Golovchenko following a meeting with the President.
According to the document, legal entities of all forms of ownership and individual entrepreneurs engaged in the production (import) and (or) sale of goods on the domestic market or providing services on the territory of Belarus will not be able to raise prices for all goods (both food and non-food) and services from October 6th, 2022. Decisions to raise prices will be made by the republican bodies of state administration, state organisations subordinate to the government, regional executive committees and the Minsk City Executive Committee, but only in case of economic expediency.
The Antimonopoly Regulation and Trade Ministry, other republican government bodies, state organisations subordinate to the Council of Ministers, regional executive committees and the Minsk City Executive Committee have been instructed to control the saturation of the market with goods (services). And also given the authority to suspend the operation of facilities, the validity of special permits (licenses) in case of violation of the requirements of the government decree.
Based on materials of sb.by and belta.by
There are objective factors that influence the price growth. Due to the thoughtless sanctions imposed by Western countries, the usual pattern of world trade has been disrupted, the Head of State said. As a result, inflation rates are hitting records all over the world.
“That means that rising prices and high inflation are not an invention of Belarus. The whole world is going crazy with this inflation. The growth of food prices in the United States has become the biggest one since 1979. The European Union set a record for the entire period of the single European currency (January 1st, 1999). In Estonia, annual inflation exceeds 25 percent; and it is above 20 percent in Latvia and Lithuania,” Aleksandr Lukashenko reported and named a number of examples.The Head of State pointed to the facts of unreasonable increase in prices for imported goods, as well as by manufacturers of domestic products.
“For some reason, importing companies continue hedging exchange rate risks by inflating prices, although the exchange rate of the Belarusian ruble is stable. Responsibility for the reasonableness of import prices should be introduced, and a control system should be established,”
Aleksandr Lukashenko highlighted.
The Head of State also mentioned some businessmen, “First, they raised the prices because of the increased exchange rate, and when our currency strengthened, they ‘forgot’ for some reason to lower the prices. Speculators easily profit from disruptions in the supply chain. The State Control Committee has been reporting facts when apples, onions, beets and cabbage, grown by our agricultural enterprises, are bought from mediators with a 300 percent markup!
Aleksandr Lukashenko is convinced that in such a manageable compact country as Belarus, the power vertical is absolutely capable of restoring order and ensuring a fair treatment of people by the state and supporting and helping those who need it.
At the same time, the President harshly warned “We do not have and will not have a shortage of goods. I promise this to people.”
Following the meeting, the President announced his decision: from October 6th any increase in prices is prohibited.
Aleksandr Lukashenko explained, “Prices are exorbitant today. They hit the ceiling. Prices cannot be raised anywhere. There is no need for that. Yet there may be exceptions. These exceptions are under the control of the minister and the governors.”
The President also emphasised that he is not afraid of criticism for these decisions, because the most important thing is to pursue a fair policy.
The President of Belarus signed Directive No. 10 ‘On banning price rises’ following a government meeting held on October 6th
The document was adopted in order to immediately and firmly respond to the current situation in the consumer market. In order to protect the interests of citizens and organisations of the Republic of Belarus, to prevent further price growth, establish an effective system of price control and saturate the domestic consumer market with goods the directive imposes a ban on price increases and obligations to unconditionally saturate the domestic market with goods and services.
To develop measures to regulate prices, a working group headed by Chairwoman of the Council of the Republic of the National Assembly Natalya Kochanova was created. The working group has been tasked with drawing up a list of proposals on measures to improve price regulation and submit it to the Council of Ministers within ten days.
Before October 20th, 2022, the government shall approve and implement a price regulation system on the basis of the proposals submitted by the working group.
***
The government of Belarus has introduced a moratorium on increasing prices and tariffs in the domestic market
The corresponding resolution was signed by Prime Minister Roman Golovchenko following a meeting with the President.
According to the document, legal entities of all forms of ownership and individual entrepreneurs engaged in the production (import) and (or) sale of goods on the domestic market or providing services on the territory of Belarus will not be able to raise prices for all goods (both food and non-food) and services from October 6th, 2022. Decisions to raise prices will be made by the republican bodies of state administration, state organisations subordinate to the government, regional executive committees and the Minsk City Executive Committee, but only in case of economic expediency.
The Antimonopoly Regulation and Trade Ministry, other republican government bodies, state organisations subordinate to the Council of Ministers, regional executive committees and the Minsk City Executive Committee have been instructed to control the saturation of the market with goods (services). And also given the authority to suspend the operation of facilities, the validity of special permits (licenses) in case of violation of the requirements of the government decree.
Based on materials of sb.by and belta.by
