Minsk 14:07

Almost 20 percent of Belarusian retailers unprofitable – senior official

Snapkoŭ speaking at the government conference
(Belarusian leader's press office)

December 21, Pozirk. A total of 137 of 714 Belarusian retailers included in the official statistics posted losses this year, First Deputy Prime Minister Mikałaj Snapkoŭ has told Alaksandar Łukašenka at a government conference today.

The government’s price controls resulted in lower sales profits even though retail trade grew by 8.2 percent in January-November year on year, he noted.

“It could not have been otherwise because we controlled markups,” the Belarusian leader’s press office quoted Snapkoŭ as saying.

Belarus reported a 4.9 percent increase in consumer prices in the first 11 months of 2023.  The government is determined to keep inflation under 6 percent.

The Belarusian ruler directed officials to work out an effective price control mechanism for 2024.

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