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Experts: Inflation in Belarus to Grow Because of Harvest Failure

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Experts: Inflation in Belarus to Grow Because of Harvest Failure

Other factors will influence the price rise.

Reduction of grain harvest in Belarus may become an additional pro-inflationary factor for the rest of the year, according to experts of the Eurasian Development Bank (EDB), reports interfax.by.

"Reduction of grain harvest in Belarus (by 19% as of September 10) could become an additional inflationary factor for the rest of the year," reads the weekly express-review of the situation in the economies of the EDB member-countries.

The bank experts note the annual inflation in Belarus in August was 9.8%, the same as in July. "Increased inflationary expectations, global delays in supply, more expensive food and raw materials on the world market contribute to the price growth," reads the review.

According to the EDB experts, the annual inflation in Belarus will remain close to the current level through November, while a slight slowdown is expected in December.

According to the Ministry of Agriculture and Foodstuffs of Belarus, on September 13, the threshing of grain amounted to 6.36 million tons, which is 19.3% less than that of the same date last year. 98.8% of the area of grain is harvested.

Previously, the authorities noted that difficult weather conditions had affected the grain harvest. In particular, the yield of spiked grains decreased by 6-7 centners per hectare. The country has a deficit of feed grain, which is planned to be covered by corn growing not for silage.

In late August, the Belarusian government imposed a ban on the export of wheat, rye, corn and other grains from the country for six months.