site.btaUPDATED Prime Minister Zhelyazkov: Authorities Are Monitoring for Price Gouging

State authorities are on the ground, monitoring price dynamics and will seek explanations for any unjustified increases in the prices of certain goods, said Prime Minister Rosen Zhelyazkov during the opening of a discussion on “The Effect of the Eurozone: Lessons from Member States.”

“This has nothing to do with the euro itself, since we don’t yet use the euro. However, the mere information that we may adopt it has encouraged certain market players to take proactive steps,” he commented.

Zhelyazkov emphasized that the path toward adopting the euro is not only a long-standing political objective involving specific causes and effects and the achievement of high levels of convergence, but it is also a matter of national prestige.

He assured that the public information campaign will not be politically driven or propaganda, but will provide reliable, factual content to address both public fears and concerns, while helping society make informed predictions.

The goal, he noted, is to create a predictable market environment that will allow the positive effects and benefits of the euro to be implemented.

“Unfortunately. Bulgaria lacks serious media-driven political and economic analysis, said Zhelyazkov, adding that the role of today's discussion is to provide guidance to the market.

“Why does the market sometimes behave in a volatile way, without any real economic foundation or pricing factors?” he asked. “In some respects, it seems like a test of the state’s ability to respond. Or as some might boldly suggest this could be a type of hybrid operation serving other purposes,” Zhelyazkov commented, emphasizing that such behavior warrants careful evaluation.

He stressed that national regulatory bodies, including the Consumer Protection Commission, the Commission on Protection of Competition, and the Communications Regulation Commission, will be fully engaged and carry out their responsibilities.

In the prime minister’s view, regulatory authorities must exercise their powers effectively in the coming months to ensure that market distortions are prevented, regardless of their causes.

The forum is organized by the Economic and Social Council of Bulgaria as part of the Communication Strategy for the Introduction of the Euro in the country.