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Belarus enacts price controls for consumer goods until June 30

To stabilize the situation in the consumer market, the authorities imposed temporary restrictions on price increases. Manufacturers and suppliers were banned from raising prices of goods sold in Belarus by more than 0.5% per month until June 30. According to analysts such a measure may help buyers, but it jeopardizes importers and manufacturers who are importing and selling goods from abroad or using imported raw materials to make their products. The reason behind the price control is that the Belarusian ruble has weakened approximately 20 percent against the dollar and euro in recent weeks.

“From the point of view of consumers, such a measure may indeed seem logical, because in the near future we may expect a decrease in wages, underemployment and so on. But from the point of view of economics, I think it’s completely unjustified to apply such a measure to almost all suppliers and manufacturers of products, ”says Zhanna Tarasevich, director of the Kunyavsky business union of entrepreneurs and employers.

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