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Wednesday, 16 October 2019 08:25

Eurasian Development Bank expects inflation in Belarus to further slow down

The Eurasian Development Bank (EDB) expects further slowdown of inflation processes in Belarus, BelTA learned from the September information and analysis review released by the bank.

According to the source, the stabilization of food prices will contribute to the slowdown of inflation processes in Belarus in September-October.

EDB analysts believe that in the next few months economic growth can be propped by larger consumer spending thanks to higher salaries in public sector organizations and enterprises (the first-class base salary, which determines the overall size of salaries in public sector, was raised by 12.6% on 1 September). On the whole, Belarus' GDP growth in 2019 is expected to reach 1.2%, the EDB analysts believe.

The Eurasian Development Bank estimates the effect of the fiscal policy on economic activity this year as close to neutral and expects the effect to stay in place in the medium term.

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