Price stabilization program passed in Belarus

The government and the State Control Committee have approved a 2022 action program to stabilize prices, improve pricing methods and monitor compliance with pricing legislation, BelTA learned from the government.

This strategic plan envisages a number of measures to achieve the following objectives: to meet the domestic needs for goods (legalization of parallel imports, production of import-substituting agricultural products, improvement of the stabilization fund system), to improve economic and administrative regulation (making payments for energy in Russian rubles, revision of cost reduction programs, improvement of public procurement, update of the list of goods subject to price regulation), to improve pricing methodology and control. It is also planned to introduce a single centralized digital platform in social security, to extend the discount agreement, to implement a price monitoring mechanism for imported goods, and to introduce an analytical price monitoring system by controlling cash registers.

Most of the planned measures are at a high stage of readiness, some are already being implemented.