Lukashenko: Price regulation system will stay in place

Belarus does not intend to abandon the practice of price control. This was stated by Belarusian President Alexander Lukashenko while hearing a report on the banking system's performance and measures taken to support foreign trade activities, as reported by a BELTA correspondent.

One of the significant issues the head of state focused on concerned the control over the country's pricing system. The President recalled that not only the National Bank but also the government, which bears a certain burden, is responsible for inflation and price increases in Belarus.

"On my instructions, the government has taken certain measures to bring the pricing system under control," said Alexander Lukashenko. "I observe that we are succeeding in controlling the pricing system and, to some extent, curbing prices."

"We will not deviate from this practice. The system of price control, this entire complex, will only be strengthened," emphasized the head of state. "This task has been set for the government. I ask the National Bank to keep this in mind and do everything necessary so that people are less offended by us due to rising prices and inflation in the country."

The President pointed out that the state does not intend to interfere and limit price growth where it is not necessary, or, conversely, to observe unjustified price increases without taking appropriate measures.

"We want to develop a coherent system of price control," explained Alexander Lukashenko. "Some may like it, some may not. But the decision has been made by me, and it is subject to execution."

As reported to the head of state by the Chairman of the Board of the National Bank, Pavel Kallaur, overall, the National Bank and the banking system, in cooperation with the government, are ensuring key objectives, price and financial stability, and the tasks of the country's economic development. According to him, there are no particular issues requiring resolution at the presidential level at the moment: "We are resolving these issues calmly and professionally with the government."

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