I haven't heard such an absurdity for a long time!
You can, of course, state this in beautiful phrases, using terms like "monetary factors", for those who don't bother with this at all, but:
- Firstly, the ruble's exchange rate against a foreign currency has been steadily strengthening recently, and there are no prerequisites that imported raw materials can somehow influence price growth in the current conditions.
- Secondly, what price disparity can there be with Russia when the Belarusian ruble is devaluing against the Russian ruble in small steps (by 11% since Dec.2024), so that this particular parity is maintained, even at an exorbitant discount rate of the Central Bank of the Russian Federation (18%) in comparison with the rate of the National Bank of the Republic of Belarus (9.75%).
- Thirdly, it can be seen with the naked eye that over the past six months consumer prices for the main product line have increased by at least 20-30%, despite the fact that no one has canceled the actions of the administrative resource to keep prices down. I think the average consumer won't lie.
The main reason is the increase in the cost of these products, rather than the desire of manufacturers and sellers to remove fat.
Nothing changes. Everything will be "buried" in toxic assets, and the increase in the value of these assets will be provided by the same loans through the printing press. Obviously, the write-off of all real losses of today is being postponed by all means for later.
