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Belarus has every chance to meet this year’s inflation target, National Bank head says

 

Belarus has every chance to meet this year’s 12-percent inflation target, Nadzeya Yermakova, head of the National Bank, said Wednesday during a live phone-in question and answer session hosted by the government-controlled newspaper Narodnaya Hazeta.

“All calculations show that the inflation projection for the year will be met,” Ms. Yermakova said.

According to the National Statistical Committee, in the first five months of 2013, consumer prices in Belarus rose by 6.6 percent in the first five months of 2013 after a 21.8-percent increase the previous year.

The Belarusian authorities’ social and economic development forecast for 2014 predicts inflation to slow down to 9.3 percent next year.

Meanwhile, the Research Center of the Minsk-based Institute for Privatization and Management, has forecast an inflation rate of 17.8 percent for 2013 and 9.6 percent for 2014. // BelaPAN