BelaPAN - Eurasian Development Bank forecasts 15-percent inflation in Belarus this year

Belarus’ inflation is expected to reach 15 percent in 2013, the Eurasian Development Bank (EDB) said in its report released on July 17.

The EDB warned that the country would have an even higher inflation rate if the National Bank of Belarus lowered its base refinance rate too fast or if the government failed to pursue a tight fiscal policy.

Belarus had a seven-percent inflation rate in the first six months of this year. Government experts has predicted that inflation will slow down in the latter half of the year.

The government has set an inflation target of 12 percent for 2013.

Consumer prices rose by 21.8 percent in Belarus last year, whereas the government had projected an increase of 19 to 22 percent.