The newly established Coordination Body for Price Monitoring and Analysis is set to significantly impact Montenegro’s economic growth by enhancing local production, stabilizing prices, and ensuring a steady market supply, according to Minister of Economic Development Nik Đeljošaj.

Today, the Government approved the formation of this Coordination Body, tasked with overseeing the price fluctuations of essential products critical to public welfare, market supply, and recommending measures to mitigate the effects of price hikes on these goods.

The Ministry of Economic Development (MER) highlighted that the “Limited Prices” initiative has already yielded positive results, contributing not only to a decrease in the prices of essential food items but also to the stabilization of inflation. According to Eurostat, Montenegro recorded one of the lowest inflation rates in Europe last year.

“Consequently, the establishment of a Coordination Body that will assess the overall market conditions and suggest appropriate measures to stabilize the prices of essential products aligns with our commitment to safeguarding and enhancing citizens’ economic well-being,” Đeljošaj remarked.

He added that this Coordination Body, along with other initiatives like promoting local products and creating inventory reserves, will play a vital role in Montenegro’s economic progress, bolstering domestic production, stabilizing prices, and ensuring sufficient market supply.

The MED outlined that the Coordination Body’s responsibilities include monitoring and analyzing market price trends and the availability of products essential to health and livelihood.

“It will recommend actions to address the impact of rising product prices and evaluate the effectiveness of the measures implemented to mitigate such price increases,” the statement elaborated.

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