They could be even higher - Economy Minister about rising prices in Kyrgyzstan
Food prices in Kyrgyzstan could be 30 percent higher. Minister of Economy and Commerce, Daniyar Amangeldiev, told about it live.
He explained that rising food prices are the consequences of global inflation.
«Consumer basket goods are bought on the stock exchange. If their cost grows on the stock exchange, then we cannot influence this,» Daniyar Amangeldiev said.
To curb prices for essential goods, according to the minister, the Cabinet of Ministers applies tax maneuvers, exempting suppliers from VAT (the price is reduced by 12 percent) and customs duties (a decrease by 15 percent).
«If it was not for these measures, prices would be 30 percent higher,» Daniyar Amangeldiev added.
Earlier, the Ministry of Economy reported that inflation in Kyrgyzstan will reach about 14 percent by the end of the year. At the beginning of the year, the National Bank predicted annual inflation at 18 percent, but then revised the forecast and reduced it to 15 percent.
