Belarus eases price control for most commodities

Belarus eased price control for most commodities from March 1, local media reported Tuesday.

According to a presidential decree which Alexander Lukashenko signed on Feb. 25, the state will continue to regulate prices of socially important goods, such as those that are essential to economic security.

Prices and tariffs for the rest can be decided by firms and producers themselves. The state will now regulate only the price on milk, bread, meat, oil products, utility, realtor, notary, education and some medical services, and a number of other goods and services.

The decree also cancels the right of the government to restrict the caps of price changes. Accordingly, compulsory registration of these prices (tariffs) is canceled.

Belarusian Prime Minister Mikhail Myasnikovich said earlier that the move will not lead to drastic price hikes growth because Belarus has a rather stable economy. Independent experts consider the decree a progressive step toward liberalization of the economy, but noted that it was late for 15 years.


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