A new government regulation to limit markups on 20,000 products in wholesale and retail trade will come into force in Serbia on September 1. The ceiling period is 6 months. The measure is expected to contribute to reducing prices by nearly 15%. At least, these are the expectations of the authorities.
The fine for failure to comply with the introduced measure by traders is 300,000 dinars (500 leva) for individuals and 50,000 dinars (830 leva) for legal entities. Violators may also be prohibited from carrying out certain activities for a period of six months to one year. Violations committed by entrepreneurs will cost them a fine of 150,000 dinars (2,500 leva) and a ban on carrying out certain activities for a period of 1 year.
Bulgarian traders are categorically “against“ freezing the prices of food and non-food goods upon the introduction of the euro in our country.
In July, the Association of Traders of Non-Durable Goods (ATHC) took a strong position against the bill amending the Law on the Introduction of the Euro. The reason is that such a measure could cause serious damage to our economy and create great uncertainty in the market.
The high-severity pressure provoked the proposed ban on traders from increasing prices during the period of dual labeling - about a year and a half.