Skopje, 9 February 2023 (MIA) – Minister of Economy Kreshnik Bekteshi urges companies to fulfil their promises to lower product prices. In cases of crisis profiteers, he noted on Thursday, he will ask for the MPs to back him in adopting a law on solidarity, and for the collected funds to be given to the citizens for direct support through the additional anti-crisis measures.

During Thursday's visit to Bionika Pharmaceuticals company, Bekteshi said it was the Government’s decision to continue subsidized electricity supply measures until the end of April and that he is convinced that, according to all calculations, the trend of price reductions will continue.

“I urge our local producers to focus on reducing prices because the subsidized electricity supply is just one input in price formation. We can’t affect basic food products that get directly imported to our country because there are other policies there, but for those we produce, the prices are expected to keep dropping – especially those specified in the decision to freeze and set margins, and we will not back out of this policy,” Bekteshi said in response to a reporter’s question.

One of the companies’ biggest demands was to subsidize electricity, which “we have fulfilled, and now it’s the companies’ turn to fulfil their promises, and should there be crisis profiteers, we will ask the MPs, including the opposition, to help the citizens because it’s their money, as well as the taxpaying companies, to support the new Law on Solidarity. The funds gathered from this legal solution will be used to directly support the citizens through additional anti-crisis measures created with the PM and his team and other institutions," Bekteshi continued.

He reiterated expectations to have a reduction in prices by 7-12/13% for different products, as company representatives said, pointing out that there has already been a 10% reduction in the process of some items.

PM Kovachevski also said that the prices of bread, milk and meat have gone down 7-12%, and pointed out that the Economic Chamber’s demand was for the state to enable a lower subsidized price of electricity so that the price of basic food items can be reduced up to 10%.

“It needs to be reduced 10% from pre-crisis levels. Our biggest meat producer has reduced prices from 7 to 12% depending on the product because the price of electricity is not the only input in the final price, it also includes raw materials, workforce, transport, logistic costs etc.,” Kovachevski said.

He also said it’s fair that the Law on Solidarity would secure funds that would be used exclusively to deal with the consequences of the economic and energy crisis, now that “we are in times that require solidarity”.

“We’ve shown that if we work together, we can create the necessary measures and reduce prices, because we can’t affect the price of wheat or metal on the world markets, and that’s why we need additional funds for the most vulnerable categories of citizens, our approach from day one of the crisis until the end,” Kovachevski said.

Bekteshi added that the Ministry of Economy is working with the Government to revise the Law on Financial Support of Investments. Negotiations with multiple foreign companies are in the final stages, and they will likely announce new investments in the country as early as next month. dk/nn/