Bulgaria’s PM: State support for business over high energy prices to continue after March

The Bulgarian state’s support for the private sector because of high energy prices will continue after the end of March, a government statement on March 14 said.

The specific parameters of the aid in April will be worked out this week, the statement said.

Work is being done on a new mechanism that has a longer-term horizon and gives more clarity for at least the next year, it said.

The statement followed a meeting between Prime Minister Kiril Petkov with representatives of employers organisations.

Petkov said that, unlike the current situation, in which businesses buy electricity for the day ahead, the new mechanism will stimulate the conclusion of long-term electricity contracts.

In this way, market fluctuations will be overcome and the share of long-term contracts will increase, he said.

“Unfortunately, this has not been done in the past 10 years. If we had such a mechanism, business would not be facing the current risks,” Petkov said.

Petkov said that the government must solve the problems accumulated in the past decade in 90 days.

“I can’t believe I’m hearing statements from some of the political leaders – ‘I’ll solve everything in one day’,” he said, in an apparent reference to a speech on Sunday by Boiko Borissov, who was re-elected leader of GERB at a conference of that party.

“Where have you been for the last 10 years? Why didn’t you solve the problems?” Petkov said.

The statement said that he assured Bulgarians that the government was working in a co-ordinated manner to limit the effects of inflation and called on them not to panic and stockpile products.

(Photo of Petkov: government.bg)

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