Distributors  to raise prices by 10% from August 1

Distributors to raise prices by 10% from August 1

access_time2019-08-01 15:34:27

Most distribution companies will increase prices for imported products by an average of 10% from  August 1, - CEO at Diplomat Holding Dmitry Shengelia says.

According to Shengelia, the business expected the national currency to stabilize at an acceptable mark, but the sharp devaluation  has placed on the agenda the need to increase prices for imported products.

“If the lari stood at 2, 85, then we could keep the prices at the same level. But the lari has almost reached the mark of 3 GEL  per one  dollar  and it is almost impossible to keep prices because  distributors are suffering losses, ”he said.

According to him, almost all importers and distributors plan to increase prices by 10%.

“The government and the National Bank must take urgent measures to stabilize the situation. If the rate crosses the mark of 3 GEL for a dollar, trade will practically stop as prices will be   increased that will create difficulties for both  the business and the buyers,” he notes.


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