According to the results of 2018, inflation in Belarus will remain within the framework of the benchmark of the National Bank of Belarus. This forecast is made by economists of the Eurasian Development Bank in the monthly macro survey for September, BelTA informs.
The review notes that the increase in prices for fuel, as well as alcohol and tobacco products caused an increase in August of regulated prices and tariffs in August to 9.7% from 9.1% in July. Prices for fruits and vegetables in August increased by 3% by August 2017 after a temporary decline in previous months under the influence of weather conditions. “In general, by the end of 2018, according to our estimates, inflation will remain within the target benchmark of the National Bank of the Republic of Belarus,” the EDB noted.
Against the background of rising inflation risks from the external sector, the National Bank of Belarus kept the refinancing rate unchanged in September at the level of 10%. According to the regulator, the current level of the refinancing rate is close to neutral and will help maintain inflation at around 5% in the medium term.
The review also notes that external factors continue to contribute to the formation of a substantial surplus of the republican budget. In January-August, the republican budget revenues exceeded expenditures by Br3.4 billion (about 4.4% of GDP). The increase in budget surplus
continues to be supported mainly by rising oil prices on the world market.
Written by belta.by
