Shopping malls will not increase their prices despite higher VAT

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Croatian shopping malls have promised not to raise prices despite that Parliament has increased the value-added tax (VAT) from 22 to 23 per cent.
Merchants met with Prime Minister Jadranka Kosorlast week  and discussed their reactions to the financial crisis and promised to keep their products' prices the same as before.
Kosor said: "We are all sailing on the same ship, and we want to work together. These measures are in preparation for the 2010 budget."
Some marts such as Pevec have even announced price reductions of up to 40 per cent for some items during the next two weeks.
Slobadan Skolnik form Emmezeta said his company supported government measures but unfortunately saw them as only a short-term solution. He said the retail-trade sector would not be able to bear its present burden for a long time.
Merchants will meet again with Kosor in the autumn.

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