site.btaMiddle East Crisis Not Yet Affecting Domestic Market, State Commodity Exchange Commission Chair Says
Chair of the Commodity Exchange and Wholesale Markets State Commission and head of the Coordination Centre on Euro Adoption, Vladimir Ivanov, said here on Tuesday that negative expectations regarding the eurozone have not materialized, as it has become clear that Bulgarians are ready for membership in the eurozone. Speaking at the 8th Annual Production and Trade Forum, organized by Manager magazine, Ivanov also reported that the situation in the Middle East and oil prices have not yet affected the domestic market.
Ivanov added that just as the economy is stabilizing thanks to the removal of currency conversion costs, another crisis with a very unfavourable outlook has emerged. He urged the public to rely on official information and to not give in to speculative opinions, noting that the market in Bulgaria is at a good competitive level. He said that consumer culture should continue to improve, as consumers can be an effective regulator of the market.
He noted that after December and January, the economy has shown signs of "cooling" with food prices becoming more balanced. It was the impact of climatic conditions and seasonal factors that led to higher vegetable prices.
Commission for Consumer Protection Chair Alexander Kolyachev said that numerous geopolitical factors could influence market developments. He added that the Commission will continue to closely monitor market developments and pricing practices.
/RY/
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