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. Last Updated: 07/27/2016

Belarus Is 'Stabilizing'

MINSK, Belarus ) -- Belarussian Prime Minister Mikhail Chigir has said that the removal of subsidies and sharp price increases on staples were helping to stabilize the former Soviet republic's economy.

But Chigir admitted that consumers in the country of 10 million still faced severe shortages in their shops.

Chigir told a news conference Monday that the elimination of subsidies, which sent the price of milk and bread soaring tenfold, would save the government 1.1 trillion Belarussian rubles ($44 million).