site.btaDeputy PM Poulev: Government to Extend Discussion on Measures to Curb Rising Prices by One Week

A request will be submitted to the National Assembly to extend by one week the deadline for discussing draft bills aimed at curbing rising prices, ensuring pricing transparency, and combating unfair trade practices, Deputy Prime Minister and Minister of Economy, Investment and Industry Alexander Poulev told journalists on Thursday following a Council of Ministers meeting dedicated to measures for protecting Bulgarian producers, food quality, and limiting unjustified price hikes on essential goods. The discussion was attended by ministers, representatives of regulatory and supervisory bodies, trade unions, employer organizations, and industry associations from the agriculture and food sector.

"The government is already implementing its key priorities; the institutions are functioning, and so is the state," Poulev said. He added that all policies related to people's well-being will be subject to serious public and expert debate.

He noted that the meeting participants had agreed on several key priorities - fair prices for food and essential goods, more Bulgarian products in retail outlets, and equal treatment for Bulgarian and imported goods.

The Deputy Prime Minister said that while work is underway on specific legislative measures, the government will also develop a long-term strategy to support Bulgarian agriculture and livestock farming. He noted that, at the request of industry organizations and the business community, additional time is needed for expert opinions between the first and second readings of the bill introduced by Progressive Bulgaria.

He said that during the discussion, data was presented showing markups ranging from 65% to 95% depending on the product category, with a typical rate of return in the sector ranging from 20% to 35%.

During the meeting the opinion that measures should be based on market principles, ensuring accountability, transparency, and traceability throughout the supply chain, without violating the principles of free competition, prevailed, Poulev added.

He also said that a specialized unit for coordination between supervisory and regulatory bodies would be established to monitor the implementation of the measures and require weekly reporting from the institutions.

Poulev also noted that the government is already in talks with the Bulgarian Development Bank and the Bulgarian Export Insurance Agency to develop financial instruments to support Bulgarian farmers and producers, including subsidized loans and guarantee products.

"We are not at war with either the chains or the retailers. We are at war with unfair trade practices," Poulev highlighted.