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10 october 2022

Stop, prices!

On October 6, the Presidential Directive No. 10 “On the inadmissibility of prices increase” was signed. In this regard on October 10 the Government adopted the Resolution No. 669 “On temporary measures to stabilize prices”. Both documents radically change the current pricing procedure for goods and services in the country.

The main novelties are the following:

  • From October 6, 2022, any increase in prices for goods and services is prohibited, except cases determined by the chairmen of the regional executive committees, the Minsk City Executive Committee together with the Ministry of Antimonopoly Regulation and Trade;
  • All legal entities and individual entrepreneurs, with the exception of those who sell goods in duty-free shops, are required to fix prices for goods and services at a level no higher than as of October 5, 2022. However, neither Directive No. 10 nor Resolution No. 669 clarify whether this requirement also applies to the works prices.
  • Increase in prices or setting prices for new goods and services (that were not produced, imported, sold or provided in Belarus before October 6) is possible only upon agreement with:

- the relevant republican government bodies and state organizations (for RUEs and business entities whose shares are owned by the state),

- the relevant regional executive committees and the Minsk City Executive Committee at the place of registration (for other legal entities and individual entrepreneurs).

  • If, as of October 5, 2022, the price of goods and services has been reduced due to an ongoing promotional event (special offer, discounts, sales, etc.), this price must be fixed and cannot be increased even after the end of such an event.