The coalition has not yet greenlighted the adoption of a special law that would impose a windfall tax on fuel traders.
At the moment, the Cabinet of Ministers is discussing in a closed session an informational report prepared by the Ministry of Economics titled "On Monitoring Fuel Prices on Global Exchanges and Their Impact on the National Economy in Latvia." The content of the report is, of course, also classified, but it is not difficult to guess that it analyzes the possible negative consequences of the ongoing rise in diesel fuel prices. It seems that the discussion revolves around how much food and essential consumer services will increase in price as a result. Recall that in a recent interview, Minister of Economics Viktor Valainis stated that food prices could rise by 3-5 percent.
It is expected that after discussing the informational report, the ministers may continue the discussion on whether to greenlight the Ministry of Economics' draft law on introducing a windfall tax for fuel retailers in case profits exceed 3 percent. Rumor has it that the coalition is not yet ready to support the further advancement of such a bill.
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