Unprecedented inflation in the Republic of Moldova is caused by total dependence on external energy sources. The Minister of Economy, Sergiu Gaibu, says so. According to the official, Moldova is the only country in the region that does not have its own energy sources, and this is reflected in the prices of products and services. He added that the authorities were trying to intervene to prevent speculation and unjustified price increases.
According to the National Bank, by the end of the year, inflation could reach 31%, informs ipn.md. The Minister of Economy explains the phenomenon by the fact that the Republic of Moldova is totally dependent on the international market, especially in terms of energy.
“Moldova is the only country in the region that is one hundred percent dependent on external energy sources. We all feel the prices. The price of diesel and petrol is directly linked to the international price of these products. We see daily fluctuations in the prices of these products, exactly as they happen on the international market. For this reason, we have limited the commercial addition to a number of products of social importance, in order to reduce this impact. There are some economic agents less satisfied with these measures, but it is important to limit on a series of socially important products the possibility of speculations and unjustified price increases “, said Sergiu Gaibu in a special edition on the public television station.
The Minister of Economy explains the significant increase in the prices of some foodstuffs by the fact that, since the beginning of the war, imports from Ukraine have been partially stopped and local producers are, for the time being, unable to meet demand.
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According to the National Bureau of Statistics, average consumer prices in April 2022, compared to April 2021, increased by 27.07%, including food – by 30.17%, non-food goods – by 19.13% and services provided to the population – by 34.40%.