Kosovo's Economic Oda shows reasons for rising product prices in the country

Berat Rukiqi, chairman of the Kosovo Economic Ode in an interview for Online Economics, says this is due to the rise of first-grade prices in world markets, and that the market in Kosovo is unlikely to be affected.

But he is demanding that to avoid any possible crisis, the opportunities must be seen to support consumers by lowering TVS in some articles, but without damaging local producers who have just achieved the competitiveness of foreign markets.

“We are facing an increase in prices in world markets this year. There are several reasons why prices have been raised, but first of all, we have an increase in the prices of articles such as strategic goods, and then food products, and this has contributed to the price of final products being higher than they were especially in the predemia”.

“We have limited capacity to influence these prices so that most of the impacts come from international markets so we have an increase in the price of raw materials used in production and normally impacting the cost of what we buy whether local products or those imported have higher costs. There is a cost of increased transportation at a global level and energy cost”.

“should think whether there are solutions that relieve the consumer's burden. And see the possibilities to use fiscal instruments to especially support consumers by lowering TVSh in several articles, but to see opportunities not to influence even the manufacturer who has just achieved competitiveness in different markets”, Rukiqi said.

According to him, the cause of risings in world markets has also increased risk in terms of the price of electricity in Kosovo, adding that if the crisis lasts, there may be problems even in a financial way where many companies will not be easy to deal with.

There is a visible rise in global markets, and there is risk from electricity prices. We cannot expect any problems during the winter either in terms of supply or cost. But if the crisis lasts too long then there will also be a need to intervene in the price but there may also be financial problems for many companies that will not be easy to cope with any price hikes”.

September 2021 with September 2020, in this period of time the rate of consumer prices is 4.9% in this period of time. The highest altitudes are observed in oils and fats and had a 28.2% rise.