Snopkov told how price regulation system will work in 2024

From January 1st, 2024, a percentage threshold will be determined within which any enterprise (manufacturers and trade) will be able to set prices for sale to the domestic consumer market, First Deputy Prime Minister Nikolai Snopkov told reporters, when commenting on the results of a meeting with the President’s participation on improving the system of price regulation and control

In particular, Nikolai Snopkov recalled that the President initially demanded that a clear and well-managed system work, but even from a methodological point of view, launching it right away was quite difficult, “Initially, we understood that economic laws, as the Head of State correctly noted today, exist and will exist, they cannot be ignored, since this may result in undesired consequences. Therefore, a system will be built that is minimally connected with agreeing prices with someone. A percentage threshold will be determined within which any enterprise can set prices on the domestic consumer market.”

The First Deputy PM stressed that this will not apply to intermediate and investment goods, as well as those aimed for export.

“We’re ready for such a system, and it will be implemented from January 1st – as the President instructed,” Nikolai Snopkov underlined.