According to economist Faruk Hadzic, Bosnia and Herzegovina (BiH) should urgently establish and renew commodity reserves, and procure sufficient quantities of food for its citizens, at least for a few months, due to the possible conflict between Russia and Ukraine.
“The same goes for fuel. In case of conflict, we are all entering a very uncertain period, which may indirectly affect our country in economic terms. We have record tax collections, prepare now while we still have time,” Hadzic emphasized.
He added that food and fuel will not fail, because in that way wecan ultimately intervene in the market, even if there is no conflict, due to the current inflation.
“If by any chance there is a conflict, it is very likely that there will be a new rise in fuel prices on the world market, and who knows what that could lead to. Will there be regular deliveries to our country at all?”, warned Hadzic.
Further, he mentioned that we do not have enough time to try to prepare all possible capacities, “but it would be good to quickly renew and secure whatever we can in the upcoming days.”
This is especially important for food, where we import most of the food from abroad, and we have heard that the prices of seeds and fertilizers have increased over 100 percent this year for domestic producers. It is better to be prepared and even make a mistake than to face a new crisis unprepared and dependent on the help of other countries. Should we panic? No. But we should be ready to help the citizens, “ Hadzic stressed.
As it was announced earlier, the authorities in Serbia ordered huge quantities of food due to the Ukrainian-Russian crisis.
Serbian President Aleksandar Vucic said authorities had ordered 30m kilograms of salt and 1m kilograms of peas and beans, as well as 30m kilograms of flour and milk powder.
E.Dz.
Source: Klix.ba
