Economic Impact of the Middle East War: Expected Decisions
Title: Economic Impact of the Middle East War: Expected Decisions
Content: The focus is on the Council of Ministers, meeting this Friday, which is set to decide on the recommendations from the crisis committee tasked with identifying solutions to the economic and energy repercussions of the war in the Middle East.
According to our sources, the price of homemade bread could rise from Rs 2.60 to Rs 3.90 each. The subsidy of 24 cents per loaf, provided by the Ministry of Finance, may also be eliminated, along with a significant portion of the financial support given to the State Trading Corporation (STC). An increase of 15% in electricity tariffs is also under consideration, with exemptions planned for SMEs and recipients of the Social Register.
Currently, thanks to the government subsidy, bakers purchase a bag of flour for Rs 108 from the STC, compared to Rs 278 without support. Adjustments are being considered, with the possibility that bakers may be required to pay the full price.
Additionally, a call may be made to private companies to encourage measures such as remote work, flexible hours, or work during off-peak times, where feasible. However, these provisions would not be mandatory. Meanwhile, regulations are being developed to govern home working, particularly concerning electricity consumption, internet connectivity, equipment, and health and safety aspects. Measures to combat electricity wastage, including possible penalties, are also under consideration.
Regarding home-schooling, no immediate implementation is planned due to major constraints: unequal access to the internet and equipment, supervision of children, and the need for the Ministry of Education to establish an appropriate framework.
For the public sector, the introduction of remote work in the short term remains complex. Many services cannot be provided remotely, and technical constraints persist, especially concerning secure access to government servers.
Ultimately, measures for the short, medium, and long term are being considered. Authorities believe the situation remains under control. A shipment of gasoline, diesel, and heavy oil is expected on April 16, which will ensure reserves for more than 40 days.