Minister of Economy on the Price Surge: We Will Have to Live with and Adapt to It

The head of the Ministry of Economy of the Republic of Moldova, Sergiu Gaibu, commented on the inevitable price increase due to higher gas prices. The statements were made during the Territory of Freedom show with Lilia Buracovschi. “Prices are rising all over the world. In Turkey, for 9 months since the beginning of the year, inflation has reached 13%. Turkey is a serious neighbor, with a fairly high income level of the population and a stronger economy. If you look at the neighboring countries, this happens almost everywhere. This inflation is globally unprecedented over the past 20 years. Therefore, unfortunately, we will have to live with it and, moreover, to adapt to it,” said the Minister of Economy, lisa.md reports. “Inflation means rising prices. The main support should be provided to the population whose incomes are not increasing,” Gaibu said. “Any rise in prices affects citizens. To maintain (contain - ed.) prices is a huge cost and no economy is doing this. Ultimately, the economy and business suffer from this. Moldova is a small country and cannot withstand the pressure of the global inflation on its own,” the minister stressed. “Support goes to the most basic factors, primarily energy. General aid for families with the lowest income - this segment is increasing, more families will receive assistance. It would be nice if the economy was developed before that, but unfortunately, we have already lost 30 years of growth. Despite all the crises, we now have the most socialist budget in the history of Moldova. In future we need to work for the medium and long term - to develop small businesses, create jobs and develop those industries that will bring additional income to both entrepreneurs and employees,” Sergiu Gaibu concluded. Point