We are establishing a special price monitoring unit and introducing weekly recalculation of fair prices. Priorities include fair prices, more Bulgarian food products and support for producers.
“We are not at war with retail chains or traders. We are at war with unfair trade practices. The institutions are now functioning, and the state is now functioning. Data were presented showing high mark-ups in retail outlets which, depending on the product category, reach between 65%-95%, while the normal rate of return is between 20%-35%. Nevertheless, the prevailing opinion is that the market mechanism and free competition should be preserved through the measures we have initiated.”
This was stated by Deputy Prime Minister and Minister of Economy Alexander Poulev during a briefing at the Council of Ministers, together with Minister of Agriculture and Food Plamen Abrovski and participants in the earlier meeting dedicated to measures aimed at tackling the issue of rising prices of essential goods in retail outlets.
The Minister announced that a special price monitoring unit will be established with the participation of supervisory and regulatory authorities. The unit will coordinate the actions of institutions through weekly reporting and enhanced interinstitutional cooperation. A dedicated centre within the unit will recalculate fair prices on a weekly basis according to a clear and transparent methodology based on European and international standards.
“We are all united around the core principle embedded in the draft legislation – accountability, transparency, strong support for Bulgarian producers and for Bulgarian businesses,” Poulev explained.
He further clarified that financial incentives for Bulgarian producers are envisaged through instruments being developed jointly with the Bulgarian Development Bank 
and the Bulgarian Export Insurance Agency, including subsidised loans, guarantee and insurance products for agricultural producers. “We know that agriculture is in a state of collapse and we must build a long-term vision and a support network for Bulgarian businesses,” he added.
According to him, the government is already delivering on its key priorities and institutions have begun working in a more coordinated manner. He stressed that policies related to people’s welfare would be subject to in-depth debate involving sectoral, industrial and other organisations within the framework of expert and constructive dialogue.
The priorities include fair prices for essential goods, improved access to Bulgarian food products on the market and guarantees regarding their quality, he said, adding: “There must be more Bulgarian food products on the shelves of retail outlets, along with quality and equal treatment between Bulgarian produce and imported goods.”
During the briefing, it also became clear that the government will work in full coordination with the institutions to build a long-term vision for supporting Bulgarian agriculture and livestock farming, including through improvements to legislative measures between the first and second readings of the draft laws submitted by the governing majority. Poulev further specified that participants in the earlier meeting at the Council of Ministers had agreed precisely on this additional one-week period for calibrating the measures. He was categorical that efforts are aimed at combating unfair trade practices rather than targeting retail chains and businesses as a whole, emphasising accountability, transparency and better coordination between institutions, principles that had been endorsed earlier by all participants in the forum.