Updated at 16:11,02-12-2016

Belarus Ministry of Finance Expects 120% Inflation in 2011

As a result of 2011, the inflation in Belarus should reach 120%. This figure is enshrined in a memorandum to the draft national budget for 2012, introduced to the House of Representatives by Finance Minister Andrei Kharkovets.

In 2012, the Ministry of Finance expects inflation of 19-22%, reported the agency Prime-tass.by.

The paper notes that the Ministry of Finance projects 4.2% growth of real wages next year. This year the figure has made up 0.3%.

The explanatory memorandum states that the average monthly wage of workers in the public sector (annual average) is planned at the rate of Br1.568 million (about $185) in 2011, while in 2012 the Ministry of Finance expects the figure of Br2.6 million.

On December 15, First Deputy Chairman of the National Bank Nikolai Luzgin stated that the financial regulator expected a sharp fall in inflation in the near future, which would retain the refinancing rate at an appropriate level.