The decline in inflation to 2.3 percent in July shows that the economic situation is stabilizing, VLEN said. According to the coalition, the result reflects the effects of institutional policies introduced to protect citizens’ living standards.
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At a VLEN press conference, Deputy Minister of Education and Science Driton Sulejmani said annual inflation stood at 4.5 percent two years ago, when VLEN assumed responsibility for leading the institutions, while in July of this year it fell to 2.3 percent.
Sulejmani said the lower inflation rate was an indication that the situation was stabilizing, stressing that VLEN would continue implementing policies to safeguard citizens’ living standards.
According to VLEN, measures have been implemented during this period to strengthen consumer protection and bring greater order to the market. In this regard, Sulejmani highlighted the implementation of the Law on the Prohibition of Unfair Trade Practices, which aims to protect producers and consumers from abuses in the trade of food and agricultural products.
As another measure with a significant impact, VLEN cited the reduction of excise duty on fuel, saying the move had helped lower costs for both citizens and businesses.
According to Sulejmani, VLEN believes that price stability must go hand in hand with job creation and income growth.
In this context, he referred to the Operational Employment Plan, which allocates around 40 million euros for employment, self-employment, training and vocational education.
Sulejmani stressed that reducing inflation is only one part of the work, as citizens also need opportunities for development, income and jobs.
VLEN acknowledges that not all problems have yet been resolved but says it will continue pursuing policies aimed at ensuring that improvements in economic indicators are felt directly in citizens’ daily lives and household budgets.
