Skopje, 14 September 2023 (MIA) – The prices of over 50 basic food products, 90 percent of which have a VAT of 5 percent, will be reduced by at least 10 percent as of next Wednesday, said Minister of Economy Kreshnik Bekteshi on Thursday, after his meeting with representatives of eight retail chains at the Ministry of Economy, which was also attended by the head of the State Market Inspectorate, Goran Trajkovski, and representatives of the Economic Chamber.

“We had a very constructive debate, and together we agreed that there is room for a reduction of prices. As socially responsible enterprises, this was accepted by the supermarkets, which means that the Economy Ministry’s decision will be adopted at a government session Tuesday, and implemented in all supermarket chains,” said Bekteshi after the meeting, adding that he expects their example to be followed by importers and producers of food products as well.

With the decision, said Bekteshi, the prices of over 50 basic food products will be reduced by at least 10 percent, 90 percent of which have a VAT of 5 percent. The price of the products during one of the previous months will be used as the reference price.

“Currently, the Economy Ministry is working on additional measures for distributors and producers of food products that will likely be invited to a meeting at the Ministry tomorrow. With that, the consumers won’t feel scammed, and their expenses won’t be additionally increased,” said Bekteshi.

The Minister announced that, next week, the Ministry will adopt amendments to the Law on State Market Inspectorate, in order to increase the powers of inspectors so they can act immediately and close down entities without certain judicial procedures. As of Wednesday, the Inspectorate will maintain increased presence on the ground.

“By the end of next week we will also finalize the new legislation on unfair trade practices, which will scrap over 20 percent of certain expenses in the trade chain, starting from production, and all the way to retail, which will lead to an additional reduction in prices. The legislation will determine the way in which the contract between supermarket chains and their distributors should be made, or, supermarket chains and domestic producers,” stressed Bekteshi.

Bekteshi said the Ministry is monitoring the movement of prices in other sectors as well, and said they will proceed with a phased reduction in prices in other sectors, if there are violations when it comes to setting prices. He added that the food industry is in the first phase, because illogical price hikes for food products have been identified.

The supermarkets, he said, will be allowed to sell products at discounted prices only if they are near expiry. Otherwise, if they carry out promotional sales on other products before November 30, they will be sanctioned. 

“If they clearly state that the discounted prices are because the products are near expiry, then they will be allowed to sell the product at a discount. If they fail to do so, they will be sanctioned, and the sanction might also include closure,” said Bekteshi.

Photo: MIA