Republic

MINSK, 28 February (BelTA) – The liberalization of price formation in Belarus will not trigger price hikes, Director of the Pricing Department of Belarus’ Economy Ministry Igor Fomin told reporters as he commented on Decree No 72 “On Regulation of Prices (Tariffs) in the Republic of Belarus” of 25 February 2011. “We do not expect prices to skyrocket or dwindle. There are no reasons to suppose that the abolition of some regulations will result in inflation or rush demand on some goods,” Igor Fomin said. “There is demand-pull inflation, proposal inflation and expectation inflation. If we do not exaggerate (maybe somebody makes profit on it), as we do with buckwheat today, I do not think that the inflation will rise. The inflation will be controlled, and government will keep regulating prices for socially-important commodities,” summarized Igor Fomin.

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