ADVERTISEMENT

Bulgarian government helpless against high prices

Interview

The Minister of economy and energy Petar Dimitrov expressed certainty, that the adopted yesterday measures for taking hold of the prices will be effective.

Minister Dimitrov reminded that the measures include import of wheat and purchase of maize through participation of auctions in Hungary. The measures are such as it is possible, commented the minister. Bulgaria is a market economy, the regulation goes through the market and the state intervention is reduced intentionally not to distort the competitiveness, explained Dimitrov.

We don’t have a semi-military mechanism for punishment in deviations of the price from the goods cost price. Also there is no arranged lucrativeness, was firm the minister. He said there was no reason for holding the price of the wheat or for speculative growth of the fodder’s price. Check-ups will continue although the capacity of the controlling bodies is limited, said minister Dimitrov. If the producer has declared a marginal price and does not adhere to it, he can be sanctioned.

The sanctions are between 300 leva (€150) and 3000 leva (€1500), which is not enough to threaten the infringes but this is the normative base, pointed Dimitrov and added that so far there were no proposals for change of the law. (international.ibox.bg)

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.