There will be no price shocks in North Macedonia, meaning there is no need to panic and activate commodity reserves for the time being, Economy Minister Kreshnik Bekteshi said on Tuesday.
Manufacturers of basic products have supplies for over 35 days on top of the days covered by the commodity reserves, Bekteshi said, adding that the country has sufficient quantities of food products and oil derivatives in its commodity reserves.
The minister has also urged all traders to respect the government’s decision on trade margins.
According to Bekteshi, the Russia-Ukraine war is unlikely to affect the country’s economy directly, given the trade exchange.
However, there could be an indirect impact, particularly on the energy sector since North Macedonia is directly related to over 70% of trade with the EU, the minister added.
Appropriate measures are being taken daily to avoid price shocks, especially for key products that are most important to consumers and citizens, he also said.
