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RESOLUTION OF COUNCIL OF MINISTERS OF THE REPUBLIC OF BELARUS AND NATIONAL BANK OF THE REPUBLIC OF BELARUS

of November 25, 2020 No. 674/22

About approval of the Anti-inflationary program for 2021-2023

For the purpose of creation of conditions for sustained economic growth, development of the competition and decrease in inflation expectations Council of Ministers of the Republic of Belarus and National Bank of the Republic of Belarus POSTANOVLYAYUT:

1. Approve the Anti-inflationary program for 2021-2023 it (is applied).

2. To represent to the republican state bodies and other state organizations subordinated to Council of Ministers of the Republic of Belarus, and also National Bank, regional executive committees and the Minsk Gorispolkom quarterly to the 15th following reporting quarter to the Ministry of anti-monopoly regulation and trade information on the course of implementation of the Anti-inflationary program for 2021-2023.

3. To the ministry of anti-monopoly regulation and trade to perform monitoring of accomplishment by the republican state bodies and other state organizations subordinated to Council of Ministers of the Republic of Belarus by National Bank, regional executive committees and the Minsk Gorispolkom of the Anti-inflationary program for 2021-2023 and quarterly to the 25th following reporting quarter to inform Council of Ministers of the Republic of Belarus on the course of its realization.

4. Declare invalid the resolution of Council of Ministers of the Republic of Belarus and National Bank of the Republic of Belarus of September 11, 2018 No. 658/12 "About approval of the Anti-inflationary program".

5. This resolution becomes effective after its official publication.

Prime Minister of the Republic of Belarus

R. Golovchenko

Chairman of the board of National Bank of the Republic of Belarus

P. Kallaur

Approved by the Resolution of Council of Ministers of the Republic of Belarus and National Bank of the Republic of Belarus of November 25, 2020 No. 674/22

The anti-inflationary program for 2021-2023

Name of action

Executives in charge

Completion dates

Execution form

MONETARY POLICY

1. Forming of the monetary conditions promoting maintenance in the medium-term period of inflation at the target objective

National Bank

constantly

decision making

2. Transition to medium-term target parameters of inflation

"

 2021

"

STRUCTURAL MEASURES FOR DECREASE OF THE INFLATION RATE IN ECONOMY INDUSTRIES

3. Exception of possibility of use of the exchange rate in case of price fixation (rates) and other payments by application as indicators of consumer price index, basic consumer price index, basic size, basic rent size and another

republican state bodies

constantly

decision making

4. Expansion of use of financial instruments of stock exchange trading, including the mechanism of hedging of risks in case of sales of goods and raw materials at commodity exchange

 JSC Belarusian Universal Commodity Exchange, republican state bodies, regional executive committees, Minsk Gorispolkom

 2021-2022

entering of offers into MART

5. Change of approaches to work of shops discounters, including establishment of criterion of level of trade allowances when forming retail prices and introduction of eases in development and approval of assortment inventories

MARCH

 2021

introduction of amendments to resolutions of the Ministry of anti-monopoly regulation and trade of the Republic of Belarus of   June 26, 2014 No. 25 "About approval of the Instruction about procedure for classification of retail shopping facilities by types and types" and of   June 27, 2017 No. 28 "About inventories"

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