POST Online Media Lite Edition



 

Medvedev: Retailers and producers should be satisfied with lower profit

Staff writer |
Retailers and producers should curb their economic appetite and drop their level of profit on products, Russian Prime Minister Dmitry Medvedev said.

Article continues below






They need to understand that the level of profit should be a bit lower.
Russian Prime Minister Dmitry Medvedev
"In this difficult economic situation, those who operate in trade, as well as some in production, should curb their economic appetite. They need to understand that the level of profit should be a bit lower," Medvedev said during a meeting with anti-monopoly service head Igor Artemiev.

"Of course, they shouldn't work at a loss, but attempts to get all the profit you can only imagine is considered using non-competitive methods in trade and breaches anti-monopoly legislation," Medvedev added.

He noted that traders and suppliers which used a "primitive scheme" during the devaluation of the ruble are often to blame for the surge of prices.

"The ruble depreciated by a certain amount and [they] increased prices accordingly," Medvedev said.


What to read next

Medvedev orders to prepare to extend food embargo to end-2017
Russia expects inflation below 5%
Russia's economy can be stable without high oil revenues