Plan B? The Ministry of Finance has come up with another way to reduce food prices, and it’s not about 'expired goods' 0 7

Four Directions

The goal of the plan is to reduce bureaucracy and revise requirements in the trade sector. It includes four main areas of action:

• assessment of regulatory regulation;
• reform of advertising regulation in public places;
• reform of street trading regulation;
• support for small traders in the regions.

When revising regulatory requirements, the focus will be on reducing administrative costs and bureaucratic obstacles for entrepreneurs. For example, the plan proposes to jointly review the requirements for the use of cash registers with the industry and raise the threshold for mandatory audits of annual reports, applying this requirement only to large and medium-sized enterprises.

Regarding the regulation of advertising in public places, industry representatives pointed out that the approval process is cumbersome and lengthy, so it needs to be revised to reduce the bureaucratic burden and costs for both entrepreneurs and local governments.

In turn, the regulation of street trading needs to be reassessed, as the development of new forms of commercial activity and innovations has significantly changed entrepreneurial practices, making the existing regulation outdated and in need of updating in accordance with modern business environment requirements, consumer interests, and urban development.

The introduction of new political initiatives aimed at supporting small traders in the regions will also be evaluated. More than half of the retail food traders, whose legal addresses are located outside cities—in rural areas—and who meet the definition of micro-enterprises, are operating at a loss. For this reason, it is necessary to seek support opportunities so that such stores can continue to operate, providing residents with food.

Refutation of Bad Rumors

Contrary to the information that has emerged in the public space, the Ministry of Economics of Latvia states that it has not called for the abandonment of indicating the country of origin. The ministry also did not propose selling food after its expiration date.

The action plan for the trade sector includes the development of legal regulations that would allow the sale of food labeled "Best before..." after the specified date, provided that such products are safe for consumption. The designation "Best before..." relates to the quality of the product, and in several European countries, the sale of such products is permitted.

"Currently, the Action Plan is in the process of coordination, and further discussions on it are scheduled for the meeting of state secretaries on May 7," the ministry notes.