OREANDA-NEWS. The guidelines for Belarus’ 2014 monetary and credit management policy suggest that the country will see inflation growth at 11% next year, chief of the National Bank of Belarus Nadezhda Yermakova told an online conference held by Belta.

As previously reported, Belarus’ government expects inflation growth to stay under 12% in 2013. Belarus’ consumer prices grew 21.8% in 2012, while the government’s forecast stood at 19-22%.

The NBB chief pointed out that the government and the National Bank had been instructed to work together to keep inflation at 12% at most. “The achievement of the goal will depend not only on actions of the National Bank but also on dynamics of the government-regulated prices for commodities and services till the end of the year,” said the chairwoman.

In August Belarus registered inflation growth at 0.1%, which makes 8.2% since the beginning of the year, Yermakova said. The National Bank will continue pursuing a hardline policy to combat inflation while the government also takes all the necessary measures, Yermakova said.