site.btaParliament Instructs Cabinet to Take Measures against Fuel Price Shock

The National Assembly Friday tasked the Council of Ministers with taking urgent measures to mitigate the impact of the high prices of crude oil and natural gas. The draft resolution was submitted by MRF-New Beginning earlier in the day and was adopted in a 97-20 vote, with 19 abstentions.

The Council of Ministers is expected to develop and adopt measures to support the most vulnerable social groups of the population with incomes below the poverty line, including by expanding energy assistance programmes. Regarding support for enterprises and public services affected by increased energy resource costs, the cabinet will have to develop measures and a programme aimed at the transport sector, urban transport, medical institutions, schools, kindergartens and nurseries, and agricultural producers. 

A special fund "Energy Support for Enterprises and Households" under the Ministry of Finance will be created to administer the funds under the support programmes and ensure transparency in their spending. The fund will be financed through additional revenues in the state budget from value added tax, generated as a result of the increase in the prices of Brent crude oil and liquefied natural gas. The government can also finance the fund through the Bulgarian Development Bank. 

The Bulgarian Export Insurance Agency will issue guarantees for the deferral of leasing payments to transport companies until the end of 2026, based on the reported quantities of fuels used in the corresponding month of the previous year.