Belarus freezes prices

Ministries, concerns, and local authorities have been ordered to freeze selling and retail prices for consumer goods between December 9^th, 2014 and January 15^th, 2015. The devaluation of the Russian rouble and the Ukrainian hryvnia has created unfavourable conditions for domestic producers. By the year-end, inflation may not exceed 16% in Belarus. It is reasonable to expect a decrease in the prices on Russian goods, which will encourage domestic producers to provide better discounts to maintain the share on the domestic market.