site.btaMRF–New Beginning Proposes Fund to Compensate Businesses and Individuals for High Fuel Prices

The Movement for Rights and Freedoms (MRF) - New Beginning parliamentary group Thursday tabled in Parliament a draft resolution obliging the Council of Ministers to take measures to compensate individuals and businesses for high fuel prices resulting from the military action in Iran. Speaking to reporters in Parliament's lobby, MRF - New Beginning Deputy Floor Leader Jordan Tzonev said that the key measure proposed is the creation of a fund that would be financed by the VAT revenues generated by higher prices for crude oil and natural gas. In this way, the funds will be practically neutral in terms of the budget’s expenditure side, Tzonev noted.

He added that support measures were envisaged for the transport and agricultural sectors, as well as for the broader economy. The Council of Ministers could also finance the fund through the Bulgarian Development Bank or other sources in order to respond quickly to the deepening crisis, he said.

Asked whether fuel prices in Bulgaria should be capped, Tzonev said such a step is a non-market measure that does not always produce the desired results. “At this stage, we believe it should be avoided,” he added.