Development Minister Takis Theodorikakos discussed the government’s measures aimed at tackling profiteering and containing prices in the market during an interview with Skai 100.3 radio on Friday.
The government, he said, has introduced “highly interventionist measures, unlike any previously adopted by a Greek government or by any other European country.” He noted that the cap on profit margins extends across the entire supply chain: supermarkets, wholesalers and the food industry.
“Since the day this measure was introduced, the prices of 2,000 product lines have been reduced, with an average reduction of 5%,” he said, explaining that the reductions occurred because, had businesses maintained prices at the same levels, they would have exceeded the previous year’s profit margin and faced fines from the Independent Authority.
“Therefore, the measure we introduced has delivered results,” Theodorikakos added. He pointed out that the government does not wish the measure to become permanent, as it believes “in a free, fairer and healthily competitive market.” However, he added that responsible entrepreneurship must contribute to the collective effort.
