Prime Minister Dimitar Kovachevski stated on Thursday that the “guaranteed price” measure relies on the law on unfair trade practices and market price trends. Prices and profit margins are carefully monitored in collaboration with experts, and decisions are made based on thorough assessments.

“The implementation of this measure is contingent not only on the Unfair Commercial Practices Act but also on the prevailing market price trends. At the Ministry of Economy, we work closely with colleagues and experts who analyze margins and prices across the sales chain, from production to the end consumer. Decisions are then made based on this evaluation. The legislation will undergo the necessary procedures. Personally, I have been involved in the drafting of this law, and I believe it is a significant piece of legislation that will prevent profiteering at the expense of citizens,” remarked PM Kovachevski.

Originally set to expire on November 30, the “guaranteed price” measure, effective from September 20, 2023, has been extended until the end of 2023, or until the adoption of the law on unfair trade practices, as announced by Economy Minister Kreshnik Bekteshi. The “guaranteed price” label applies to various staple products, including bread, flour, rice, milk, yogurt, meat, dairy items, eggs, non-alcoholic beverages, beer, bottled water, biscuits, wafers, fruits, and vegetables. The government has implemented a 10 percent cap on product prices, with the prices as of August 1, 2023, serving as the baseline for the reduction.