Minister of Economy: Inflation rate is expected higher than in 2015

The Belarusian government will not be able to bring the annual inflation rate down to 10% in 2016, Minister of Economy Uladzimir Zunoski announced on Belarus 1 on the evening of January 17.

The inflation arte totaled 12% in 2015. The Belarusian authorities had been planning to bring the inflation to 10% this year but the international economic conditions have made the goal unreal, Zinouski said. The economic situation in Russia influences it in the first place as our country is closely connected with it.

The annual inflation rate will not exceed 17-18% this year, the Minister hopes. The Ministry of Economy is doing everything to keep the inflation rate at 14-15%, he said.

The authorities have to refuse from supporting all state enterprises and focus on the profitable and innovative ones, the Minister thinks. He suggested restructuring loss-making enterprises.