site.btaGERB Leader Says Government's Price Control Measures Will Not Work

GERB leader Boyko Borissov said the measures proposed by Rumen Radev's government to control price increases will not be effective. He was speaking at a meeting of GERB chapters in Plovdiv on Sunday.

Borissov was referring to amendments to the Consumer Protection Act submitted by Progressive Bulgaria, which passed on first reading on May 14. The bill prohibits price increases which are not economically justified.

"When have Bulgarians eaten strawberries, raspberries and blackberries in January? Naturally, their price is high - growing them is extremely energy-intensive," Borissov said. In his view, such expensive products must not be subsidized with taxpayers' money.

"Once produce from Bulgarian gardens reaches the market, prices will self-regulate," the GERB leader said, adding that fuel costs were the real driver of rising prices.

"I see that loans are being taken out at interest rates of 4.5-4.6%, meaning that young people in particular will end up paying enormous interest amounting to billions of euro in the coming years. That is why, for 12 years, we served a 'meatless pizza', but our budget deficit was 0%. It is not that we could not have taken out loans and handed out money back then as well," he said.

Borissov was referring to a remark by Simeon Djankov, finance minister in his 2009-2013 government, who described the 2010 State budget as a "small meatless pizza" to illustrate the need for austerity.