Pavel Kallaur said: “As for inflation dynamics in 2020, our vision of the situation has not changed in comparison with November projections. Throughout 2020 inflation will remain within the targeted range of 5%.”

In his words, the projection takes into account the planned increase in regulated prices and tariffs, which will be ahead of the increase in the general level of prices. Fundamental factors driven by the state of the national economy and by macroeconomic policy measures have laid the foundation for securing moderate inflation processes.

“In 2019 consumer prices grew by 4.7% while the target was 5%. It is slightly less than we projected. In turn, core inflation slowed down to 3.5% and will stay close to this mark throughout 2020,” the head of Belarus' central bank noted.