Government significantly cut the list of goods with regulated prices
The Belarusian government has introduced changes to the system of state price regulation, which has been in effect since late 2022. The corresponding resolution was signed by Belarusian Prime Minister Alexander Turchin on July 10.
One of the main innovations was a significant reduction in the list of goods subject to state price regulation. While it previously contained 199 positions, only 76 remain now. Goods not considered daily necessities have primarily been excluded from regulation.
The government explains this by stating that the domestic market is experiencing a relatively stable price situation. According to the authorities, this allows Belarusian manufacturers and sellers to form prices more flexibly and improve their financial standing. At the same time, it is noted that in the event of an unjustified price increase, regulation on excluded goods may be reinstated.
Excluded from state regulation are milk, kefir, and sour cream in glass containers, tea blends, lollipops, chewing gum, and exotic citrus fruits.
In addition, the maximum trade markups on certain imported and domestic goods have changed, including milk, kefir, sour cream, black, and green tea.
The government believes that this will not have a significant impact on the market, as Belarusian products account for the main share of sales.
State price regulation is also introduced for certain bakery products, as well as meat and fish products produced directly in catering establishments belonging to retail organizations and sold in their retail stores. For such goods, a trade markup limit of no more than 10 percent is established.
Among other changes is the limitation of the period during which manufacturers can independently raise ex-factory prices. Such an increase will now be limited to one calendar year to prevent the accumulation of several years of unused price increases.
Furthermore, retail organizations are allowed to include the costs of mandatory certification of pre-packaged goods in their packaging expenses.
The main changes will come into force after the official publication of the resolution. The norms concerning price formation for self-produced products of catering establishments will come into effect ten days after its official publication.
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