site.btaPresident Iotova and Anti-Trust Regulator Discuss Ways to Mitigate Economic Impact of Middle East Conflict

Possible mechanisms and measures to mitigate the economic consequences of the conflict in the Middle East were discussed by President Iliana Iotova and the leadership of the Commission on Protection of Competition (CPC) during a meeting on Tuesday, the President’s press secretariat reported. The meeting was initiated by President Iotova.

Iotova emphasized the need for the caretaker cabinet to prepare a comprehensive package of measures that considers various scenarios for the development of the situation in the Middle East and its long-term effects, not only on fuel prices but also on the prices of essential consumer goods.

The main focus was placed on the need for urgent measures by the executive branch to support agricultural producers in order to prevent a food crisis. The discussion also highlighted the need for contact and effective coordination between institutions and between the executive and legislative branches, to prepare a comprehensive package of measures to manage the effects of the Middle East conflict.

CPC Chair Rosen Karadimov briefed the President on the results and progress of the Commission’s sectoral analyses in key economic areas, specifically in the food, pharmaceuticals, and product fee markets. Recommendations from the Commission to the executive authorities and to the special commercial administrator of the Lukoil companies in Bulgaria regarding the fuel market were also discussed. These recommendations are based on the most recent sectoral analysis adopted by the CPC and on ongoing monitoring of this market, the press secretariat added.

The results of the sectoral analyses are intended to serve as a basis for legislative measures to be adopted by the next National Assembly and to form part of longer-term policies across various sectors.