2023-10-07 03:51:33

How Do You Tame Inflation? Pro-Putin Belarus Leader Simply Bans Consumer Price Rises

Benzinga

By Navdeep Yadav

Belarusian PresidentAlexander Lukashenko, aknown ally of Russian leaderVladimir Putin, on Thursday, imposed a ban on consumer price rises to tame the exorbitant inflation across the economy.

What Happened:At a government meeting to discuss economic matters in Minsk, Lukashenko said his government would ban price increases from Thursday,reportedthe state-run Belta news agency.

From 6 October, any increase in prices is prohibited. Forbidden! From today. Not from tomorrow, but from today. So that they do not inflate prices over the day ... God forbid someone decides to raise prices or do some indexation retroactively, Lukashenko said in a meeting of government ministers.

Exceptions: However, Lukashenko reportedly announced exceptions for certain commodity positions and named the people who would be authorized to make such decisions.

Such decisions can be made by the Minister of Antimonopoly Regulation and Trade, governors, and the Minsk mayor. Without their permission, no price may rise over today's level, he said.

#president #economy #commodity #pricerises #governmentmeeting

Continue read on benzinga.com

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