Skopje, 11 January 2024 (MIA) - The “guaranteed price” measure depends on the law on unfair trade practices and market price trend, Prime Minister Dimitar Kovachevski said on Thursday.

Prices and margins are monitored in cooperation with experts, and decisions are made depending on the assessment.

"That measure will depend not only on the Unfair Commercial Practices Act but also on the market price trend. We at the Ministry of Economy have colleagues, we collaborate with professors who monitor the trends of margins and prices in the sales chain, from production to end, and depending on the evaluation, decisions are made whether to continue or not, and the law will certainly go through the procedure. I have personally participated in the drafting of this law and I think it's a great law that will limit the possibility of profit on the backs of citizens," said PM Kovachevski.

After taking effect on 20 September 2023, the "guaranteed price" measure continued to be valid until the end of 2023, rather than the previously agreed upon November 30. Then, Economy Minister Kreshnik Bekteshi announced that the measure would extend to January 2024, or until the adoption of the law on unfair trade practices. The "guaranteed price" label was applied to standard types of bread, flour, rice, milk, yogurt, some meat and dairy products, eggs, non-alcoholic beverages, beer, bottled water, biscuits, wafers, fruits, vegetables, etc. The Government made a decision to cap product prices by 10 percent, with their 1 August 2023 prices serving as a basis for the reduction.

After taking effect on 20 September 2023, the "guaranteed price" measure continued to be valid until the end of 2023, rather than the previously agreed upon November 30. Then, Economy Minister Kreshnik Bekteshi announced that the measure would extend to January 2024, or until the adoption of the law on unfair trade practices. The "guaranteed price" label was applied to standard types of bread, flour, rice, milk, yogurt, some meat and dairy products, eggs, non-alcoholic beverages, beer, bottled water, biscuits, wafers, fruits, vegetables, etc. The Government made a decision to cap product prices by 10 percent, with their 1 August 2023 prices serving as a basis for the reduction.

Photo: MIA