Reduction of 20% is not realistic / day

At the very end of March, Economy Minister Viktors Valainis said in an interview with Latvia for Television that the ministry had not departed from the goal of getting a reduction in food prices by at least 20%. Ministry of Economics (EM) Day points out that the reference point for the expected price reduction in goods can be considered at the end of 2024, the moment the Minister of Economy presented conceptual proposals for the government coalition to promote the availability of food products at affordable prices at the level of public purchasing power. The reduction in the time will be achieved depending on the process of harmonizing the draft legislation and the adoption of the regulation.

Currently, the annotation of amendments to be examined in the Saeima (the Law on Trade Practice) states that the evaluation will be made, ie. ie, after the entry into force of the bill, the Competition Council plans to carry out an evaluation within three years of market surveillance to find out how the regulation has worked, what the benefits and disadvantages are, and whether the regulation should be interchangeable. The MoE points out that price changes will be followed by the Central Statistical Bureau (CSB) price monitoring data.