The Government of North Macedonia has decided to set profit margins for 1,000 products across 102 product categories.
- A 5% margin will apply to essential food items like bread, flour, eggs, milk, cooking oil, yogurt, and cheese.
- A 10% margin will be imposed on 55 products, including meat, sugar, dairy products, butter, canned fruits and vegetables, beans, rice, and baking goods.
- A 15% margin will be placed on 39 products, including fresh fruits and vegetables, detergents, baby food, and hygiene products.
The new regulation is set to take effect tomorrow after being published in the Official Gazette and will remain in force until April 30. According to the Deputy Minister of Economy, Marjan Risteski, the government expects the prices of included food products to drop by approximately 10%, except for the eight essential items, which are expected to either maintain their current prices or have minimal price reductions.
Risteski also noted that market inspections revealed that wholesale and retail traders have been applying 20-50% profit margins on some products, much higher than the newly approved rates.
However, the Chamber of Commerce requested a meeting with the government, arguing that only about 200 products should be included in the measure instead of 1,000, as the increased margin limits could potentially threaten the viability of local markets, especially with increased operating costs of 12-15%.
