and participants of the concert from the federation of trade unions of belarus

hello, project with you everything is clear with marina karaman let's talk about complex things in simple terms. today, about how the refinancing rate works, what happens to prices in belarus and whether germany and the united states regulate their prices went to belarus , the refinancing rate decreased from 12% to 11.5

, this indicator indicates the dynamics of inflation in the state of the economy and the ability of business people and states to service their expenses. it also serves as a tool for certain moments. it can ease inflation and spur the economy just in 2020 before social economic trials, the refinancing rate in belarus was 7.75%, that is, things were found very well , even considering that at that time, and it was july 20, the world had been sitting in the coronavirus quarantine, but then due to production shutdowns and twisted logistics. inflation. it began to grow, all over the planet the sanctions pressure was intensified on us and in 2022 the world’s economies, never sure, rolled into a financial hole due to a suicidal refusal europe from russian energy carriers, we do not live in a vacuum.

and if our trading partners’ incomes are falling, they are falling, and therefore, already at 21, inflation in belarus began to grow for the last time the national bank moved the refinancing rate on february 28, 22, that is, almost a year ago, and then it was increased to 12% per annum, detractors prophesied belarusians, the deterioration of the economic situation and the further growth of the refinancing rate, but their forecasts, once again, did not come true, 11 months passed and the national bank lowered this figure. in the principle of spending one always works in the economy - this is the income of the other, if people do not have money, they do not buy food and food, factories and factories that produce them lose income and cannot grow, and economic growth is possible only if production grows, it is important to understand here each ruble you earn is your income, but the expenditure of those who bought the goods or service is the enterprise where you work, each

ruble you spend is the income of the company from which you bought the product or service, that is, we all do something every day sell and buy its time to qualify a service or product. and those who do not have enough money for these purchases take loans and receive money in return for promises to repay them on time and pay interest, if the interest is too high, people will stop taking loans, their spending will decrease, and the spending of one is the income of another. that is, buddy's income will fall, if the interest on loans is too low, people will gain debts of money. they will have too much on their hands, they will lose value, that is, inflation will increase, in addition, the debts will have to be repaid, what are we doing, when we need to repay a debt faithfully, we cut expenses, and cutting expenses for some means cutting incomes for others. that is, we need someone smart and diligent, who will analyze all the sale and purchase transactions

in the country and deduce such a percentage on loans so that it keeps at the right level both our income and the income of those from whom we buy something this ideal interest on loans depends on the refinancing rate, and it sets. the national bank constantly counts the number of goods and services in the country and compares their value with the amount of money citizens and companies, that is, it analyzes all the markets of the state. the main task. the national bank to regulate the money balance in these markets so that neither the enterprise nor the people are left without funds for growth and development is crazy work, because it is necessary to consider billions of transactions of millions of people, then calculate at what percentage it is possible to give loans to commercial banks so that they in turn they gave loans to businesses and citizens, and so that these loans would not be introduced into kabbalah, neither banks of unusual citizens are not businessmen, but allowed each participant market to improve welfare. at the same time, it is necessary

to evaluate inflation, that is, the cost of money and its dynamics, and then predict whether inflation will decrease or increase. and how fast will he do it? at the output of these calculations, the national bank displays the ideal indicator of the refinancing rate. that is , the percentage of the amount for which the national bank is ready to lend this amount to other banks? a schematic example of a commercial bank wants from national banks a loan of one million rubles. to give people loans, the national bank says, i will give you a million, but you will give it back to me in a year and for this year of using millions you will pay 11.5% from above, the bank agrees to take a million and distributes it to people, but already at 13% a year a year later it receives its million plus 13% from people. that is, 130,000 million returns to the national bank 11.5% for the use of a million, that

is, 115,000, and one and a half percent. that is, another 115,000 is the bank’s earnings, if money in the country depreciated by 11.5% over the year, then the national bank conditionally went to zero, if it made less profit, if it lost more, because the national bank is very attentive to such calculations and does not set the refinancing rate, which will lead the country to losses. why the country because the national bank is a state financial management body, it does not have the task of earning on interest rates. he wants only price stability in the banking system and the smooth operation of payment mechanisms. the national bank is the only organization in the country that has the right to print money. and his goal is to print them. as little as possible, because the need to add money arises. only when they depreciate, and the national bank he tries his best to prevent such scenarios. so here is the reduction of the refinancing rate. this means that after calculating

all the risks, hundreds of financiers. the national bank is confident that even if people get loans. they will be able to pay them on time and without reducing their expenses, that is, without depriving the country's enterprises of their income. and those will continue to develop, it was this confidence that the national bank demonstrated by lowering the refinancing rate. now, in this case, this suggests that inflation is slowing down, it is important when loans for the population become it is unprofitable for affordable banks to attract clients' money at high interest rates, therefore, payments on deposits are also reduced. yes, inflation is slowing down the national bank predicts that in the first quarter of the year it will make it less than 10%. main indicator. here prices are in october twenty-second. they were 15.2% higher than the year before in november by 13.3% in december already by 12.8 all these data are available on the website of the national bank, a decrease in price growth by almost 2.5%

over 2 months. this is a tangible result, the cheaper goods and services. the more we can buy them with your earnings. that is, the higher the value of money is more stable, the national currency and the real opportunity to reduce the refinancing rate. such is the confidence of the national banks in the solvency of the belarusians. he says that sanctions are unpleasant, but for the economy in belarus, not fatal , manufacturers have adjusted the product line, rebuilt logistics and entered new markets, our main trading partner, russia adheres to the agreement to increase imports from belarus, create joint ventures and maintain profitable prices for energy resources, thanks to a series of visits abroad for the presidency and diplomats of belarus, our country increased sales of its goods in the eu and africa markets and attracted new investments from china

. well, and, of course, a monumental role in this financial pair was played by the meeting with the president on october 22, when alexander lukashenko demanded that the state apparatus take prices under control. if all market participants form prices, reasonable, artificial understatement can hit suppliers and manufacturers reasonably, which means that the seller of goods or services includes taxes in their cost and adds a certain share of net earnings. if this is a share of net earnings, it crosses reasonable boundaries, the state is forced to indicate this to the seller, which is what the president instructed the ming and the state control committee to do, the department monitored prices in the country and found out that a whole plast of sellers cheats on goods at 150-200 and even 300% of the cost explains this cheating with far-fetched reasons, like butchering these unfortunate carcasses, chickens, after

which the meat became smaller, and more money was required for it. here are such schemes for sellers. i had to refuse. so such control is not harmful to the economy. he, among others, raised the real value of money and gave the national bank the opportunity to lower the refinancing rate. people to get money in their hands to invest in the purchase of development and business and thereby continue to spin the economy. it is generally accepted that in advanced economies, prices regulate only the relationship between supply and demand. in fact. it's not like every company strives to become the largest in the market, that is, to monopolize it and to prevent this from happening in the developed countries part of the scene. the state regulates. here are a few examples in the united states under state regulation falls into the cost of about 10% of all manufactured goods, and in the us drug market and a list of drugs that all pharmacies in the country are required to sell at the same price. cheaper

can not be more expensive. in austria under control state prices for electricity. gas. heat medications, certain metals, cigarettes, salt, postal telephone services, railroad crossings and liquor ministry of economy. austria can regulate prices for any goods and services for up to 6 months, if one or more enterprises are caught inflating the cost of goods and if the price of raw materials for the production of the product has fallen, and the supplier has not reduced the price of the product itself in germany, the state regulates about 40% of prices for food and industrial products, as well as medicines, according to in the opinion of local analysts, it was this approach that made it possible to support german farmers to evenly distribute income between companies and bring pricing into a market format, but within a reasonable sum, the refinancing rate is the amount of interest. in the year under which the national bank is ready to give loans to the country's banks

, refinancing depends on the availability of loans for ordinary citizens and businesses, if it decreases, it is easier to take loans, but payments on deposits become lower than the refinancing rate. maybe as an indication state of the economy, and a tool to support it in advanced economies part of the scene. always regulated by the state. accept the fact that when talking about belarus, one should rely on the opinions of experts who live and work in belarus , understand that some financial indicators may have different meanings in different contexts, and you need to rely on the analysis of specialists, and they are always ready to answer the questions of belarusians. well, to evaluate the hand, which in a few jerks slowed down the accelerating inflation and reversed it. this is very strong hand. i am marina karamany in what is worth the refinance saver. we figured it out, everything is clear. see you.

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