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The freezing of prices by the government in Nicaragua ocurrs considering that the global rise and its prolongation in the local economy would affect family, financial and production dynamics with inflation.
On Friday, the Nicaraguan government ordered the freezing of fuel prices for 12 consecutive weeks, generated by the international crisis in oil prices due to Russia's military operation in Ukraine and the sanctions imposed on Moscow for that action, Managua said in a statement.
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"(President Daniel Ortega) has instructed the Ministry of Energy and Mines and the Nicaraguan Energy Institute to inform our people that the Government of Reconciliation and National Unity (GRUN) assumes with its resources the following increases corresponding to the week of June 5 to 11, 2022," the Nicaraguan government said in a statement.
The freezing of prices in Nicaragua is considering that the global rise and its prolongation in the local economy would affect family, financial and production dynamics with inflation.
"Given the constant increase that the international prices of oil and its derivatives have had since the beginning of the year 2021, which affect the economies of all countries, always thinking about supporting Nicaraguan families and the various economic activities carried out by our people related to production, collective transportation and the various economic activities of the country," the official note adds.
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