Inflation dynamics in Belarus will remain stable in 2024, reads the summer regional economic review by the Eurasian Fund for Stabilization and Development, BelTA has learned.
“Despite the continuing impact of the growing domestic demand, inflation dynamics will remain fairly stable. By the end of 2024, inflation rate is projected at 5.8% (the target of the National Bank of the Republic of Belarus is 6%),” the forecast reads.
Maintaining inflation targets will be facilitated by the expected gradual normalization of monetary conditions due to the increase in the money market interest rates and the preservation of price controls, the Eurasian Fund for Stabilization and Development predicts. “In subsequent years, the authorities are expected to seek to maintain the inflation rate at around 5%. Thus, in 2024 the growth of the broad money supply, according to our estimates, will slow down to 15.7% in 2024 and to 9-12% in subsequent years,” the review reads.