Sergiu Gaibu: Unprecedented inflation is due to total dependence on imported energy resources

News

photo source:

Posted by: Carolina Străjescu

News / Economic

18 May 2022 / 10:12

Sergiu Gaibu: Unprecedented inflation is due to total dependence on imported energy resources

Unprecedented inflation in our country is caused by total dependence on imported energy resources, the Republic of Moldova being the only country in the region that does not have its own energy resources. The statements were made by the Minister of Economy, Sergiu Gaibu, during the Special Edition on the public television station.

The Minister explained that the increase in energy prices was directly reflected in the prices of products and services.

"Moldova is the only country in the region that is one hundred percent dependent on external energy sources. We all feel the prices. The price of diesel and petrol is directly linked to the international price of these products. We see daily fluctuations in the prices of these products, just as they happen in the international market. For this reason, we have limited the commercial addition to a series of products of social importance, in order to diminish this impact," said Sergiu Gaibu.

At the same time, the Minister of Economy mentioned that the significant increase in food prices was explained by the fact that, since the beginning of the war, imports from Ukraine had been partially stopped and local producers could not, for the time being, cover the demand.

"Oil - there were massive imports in April and May. Quantities much higher than in the same period last year. The price was really high in March, when there was a cessation of imports from Ukraine. In April, much of the imports have already resumed. This growth is seasonal; it is recorded every year. And last year there was an increase in the price of oil by 20-25%," said Sergiu Gaibu.

At the same time, in the context of the increase in pasta prices, the Minister urged economic agents to benefit from support through ODIMM, in order to capitalise on the production potential of pasta.

According to the National Bank, inflation could reach 31% by the end of the year. In April, the average consumer prices, compared to April 2021, increased by 27.07%, including food products by 30.17%, non-food goods - by 19.13% and services provided to the population - by 34.40 %.

Show Comments

Latest News

Over 70 domestic entrepreneurs exhibited their products at the "Cămara Fest" fair

News / Economic

27 Nov. 2022 / 21:16

News

Latest News

Over 70 domestic entrepreneurs exhibited their products at the "Cămara Fest" fair

The Anticorruption Prosecutor's Office appealed to the Supreme Court of Justice on the case of Igor Dodon

Exhibition-fair of exotic birds at Soroca Citadel

PAS National Council meets to discuss the strategy for the local elections

Environment Agency recommends the use of alternative means of transport to reduce the level of air pollution

Bogdan Aurescu and Antony Blinken will discuss Romania's support to the Republic of Moldova

Snow to blanket Kyiv from Sunday as power still in short supply

Maia Sandu’s message to farmers: Let's make the brand "Made in Moldova" a natural thing on the world markets