‘Basket with care’: Some retail chains in Bulgaria to lower prices of selected products

Bulgaria’s government announced on June 8 the “Basket with care” initiative that will see some retails chains lowering prices of selected basic products.

“Today we are creating a strategic partnership between retail chains and the government, aimed at ensuring stability, predictability and social responsibility towards Bulgarian citizens in times of crisis and high inflation,” Prime Minister Roumen Radev said.

This initiative is a serious public commitment, which achieves a voluntary reduction in prices of basic food products, mainly Bulgarian, for a long-term period of time, a government media statement said.

“We are meeting public expectations and supporting both the end consumer and the Bulgarian producer,” Radev said.

Minister of Agriculture and Food Plamen Abrovski said that the initiative achieves a 15 per cent reduction in the goods from the small consumer basket for a minimum of six months.

“During the bilateral meetings we held with you, some made a commitment for a much longer period, some made a commitment to diversify these goods,” Abrovski said.

Deputy Prime Minister and Minister of Economy, Investments and Industry Alexander Pulev said: “On the agenda is the resolution of a very serious short-term problem – to show solidarity and social responsibility towards the most vulnerable households, towards pensioners, towards people who need strong support and coordination between the government and modern trade, so that they can get out of this spiral of crises”.

According to Pulev, the principles of free competition are not affected in any way.

He expressed hope that the current initiative marks the beginning of a truly constructive partnership, the ultimate goal of which is to revive Bulgarian agriculture, so that there is more production and there is equality between producers both in Bulgaria and abroad.

Billa will reduce the prices of over 100 products from June 18, but did not say by how much. Kaufland announced that the prices of between 30 and 50 items will be reduced by at least 30 per cent from June 8. Metro will participate from June 10 with lower prices on 50 items, and from July 1, on 150 items. Minimart will participate from next week, but did not announce which items and by how much it will reduce prices. Fantastico and Lidl will also reduce prices from June 8. 

(Photo: Bartosz Wacawski/ freeimages.com)