Moldova has a higher inflation rate compared to other countries, primarily due to the influence of external factors - Maia Sandu.
Moldovan president said this while answering journalists’ questions after a meeting of the Supreme Security Council. "We all know that Moldova is highly dependent on imports, because it has an underdeveloped manufacturing sector. We produce raw materials, they are exported, but processed products, to a greater extent, are not produced locally, including agri-food products, which is most disturbing, given that we have fertile land, and the processing industry is not so well developed. This means that we have to import finished products, and we import at higher prices than we could produce in Moldova. This is the first element, but it can be resolved in the medium term, because enterprises are not built in a few days. The second factor is the rise in prices for the energy that we don't have and don't produce, and it is difficult to change anything except promoting green energy from renewable sources, and this requires large investments, and the results will appear in the long term. Thirdly, we are neighbors of Ukraine, and we are more affected by the effects of this war", said Maia Sandu. According to her, knowing these external elements, which are mostly responsible for the high level of prices, the CSS also discussed internal elements which can be influenced, and that is why recommendations were made to analyze if the NBM monetary policy was correct, and if we have good enough legislation regulating the import and sale of oil products. "We decided to find and eliminate all restrictions for small producers who face problems while selling products in the market, because of the fact that some intermediary monopolists buy products from them at a small price, and then unreasonably increase it 4-5 times. We have to facilitate their access to local and improvised markets so that they can sell what they produce," President of Moldova stressed. // 27.05.2022 - InfoMarket
