Deputy PM for Economic Affairs Fatmir Bytyqi said Wednesday that inflation is expected to reach 11.6 percent by the end of 2022., transmits MIA.

He noted that the Government held discussions Tuesday in order to curb the rising prices, and one of the possible measures would be for all the production capacities, especially from the food industry, to join the regulated market which offers cheaper electricity.

Bytyqi reminded that the inflation in September amounted to 18.6 percent and announced an analysis of its cause, namely whether the inflation is a result of just one segment or if it is import-dependent.

“The current inflation is not only motivated by the food products and the growing prices, but also by other variables as well. Our forecasts show that inflation should amount to around 11.6 percent by the end of the year. Yesterday, the Government discussed certain, maybe unconventional and impractical measures, aimed at curbing the rising prices. One of the measures which we are likely to adopt, is moving the production capacities, especially those from the food industry, to the regulated market which offers cheaper electricity, so that the price of electricity does not additionally affect further price increases,” said Bytyqi.

The Deputy PM said that the Ministry of Agriculture, Forestry and Water Economy, through the intervention fund, is trying to intervene in agricultural products which, as basic resources for food production, should not undergo further price hikes.

Deputy PM Bytyqi stated that there is a set of measures being implemented, not only in North Macedonia but also anywhere in the world where the crisis is present. “We are monitoring the situation and we will do everything possible in order to minimize the negative effects on the citizens,” said the Deputy PM.