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07.02.2012

Government, National Bank to adopt joint plan of action to curb inflation

MINSK, 7 February (BelTA) - The Government and the National Bank will take joint action to curb inflation, Economy Minister Nikolai Snopkov said at the government session.

“The Economy Ministry has proposed the price change matrix for basic commodities the prices for which are regulated by the state, and a number of other measures to curb inflation. The proposed measures have been approved in general and they will be included in the plan of joint action of the Government and the National Bank, which will be the systematic anti-inflation document,” Nikolai Snopkov said.

Last year, the Government took a number of anti-inflation measures. These measures were administrative, temporary. These are classic measures applicable in all countries of the world, said the Economy Minister. As a result, the devaluation outpaced the consumer price index.

In the first half of 2012, the price competitiveness of Belarusian goods will depend solely on the sound pricing policy and tight monetary policy, stressed Nikolai Snopkov.