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Belarusian Authorities Invite Over Devaluation

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Belarusian Authorities Invite Over Devaluation

Halouchanka fell into Myasnikovich's trap.

Prime Minister of Belarus Raman Halouchanka fell into the favorite trap of former Prime Minister Mikhail Myasnikovich, who in 2014 led the country to 40% devaluation with one signature, writes afn.com.

Halouchanka decided he was not any worse, and signed Decree #100 of February 23, 2021 “On temporary measures to stabilize prices for socially important essential goods,” which de jure introduced state regulation of prices for 62 commodity items (mainly food) according to list #1, and 50 items of medicines according to list # 2.

Particular attention should be paid to the fact that “martial law” in prices is introduced immediately for a year.

“Legal entities of all forms of ownership and individual entrepreneurs engaged in the production (import) and (or) sale of socially important essential goods to the domestic market according to the lists in accordance with Appendices 1 and 2 (hereinafter - socially important essential goods) should not allow price increases from the date of entry into force of this resolution is February 28, 2021 compared to the prices in effect on February 24, 2021, and, in the absence of goods on that date, on the previous date,” the document says.

“From March 1, 2021, the change in prices for socially important essential goods cannot exceed 0.2 percent per month to the price of these goods as of the last day of the previous month ...”, the document also says.

“Increasing prices above the limit ... is allowed only with the agreement of the Commission on State Regulation of Pricing under the Council of Ministers of the Republic of Belarus,” the decree says (whoever is supposed to, will be raised as much as necessary).

The working day on February 24 in trade organizations will begin with a massive change in prices for goods. Moreover, the prices for the goods included in Halouchanka’s lists will be changed retrospectively. Today, prices for all other goods will begin to sharply rise as much as they see fit, taking into account the political and economic risks in the country.

In fact, Prime Minister Halouchanka opened the door and officially invited into the country Her Majesty Devaluation, which has probably been missing our blue-eyed Belarus (there were fewer breaks before).

A sharp increase in the prices of goods not included in the list will lead to a sharp surge in inflation with all the ensuing consequences.

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