Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

Competition watchdog scratches affordable products initiative

Photo: BGNES

The Commission on Protection of Competition has cancelled the Ministry of Economy’s initiative “Available to you” which aimed to lower the prices of around 50 products from the small consumer basket at chain stores.

The initiative was supposed to have been launched on 1 November. According to the regulator, the initiative will result in restricting price competition among traders and is a violation of the constitutional principles of free economic initiative. The Commission is recommending “providing individual food packages and a warm lunch” as a way of coping with the increase in prices.

“The initiative is good, it is European and does not distort competition in any way, but it is very much delayed – by one year,” Assoc. Prof. Ognyan Boyukliev from the Bulgarian Academy of Sciences’ Economic Research Institute commented for the BNR. “It is a good thing there will be no price caps. Price caps were put in place in Hungary that have already been done away with because they led to shortages,” Assoc. Prof. Ognyan Boyukliev said.

The Ministry of Economy said that they would not give up the initiative aimed at achieving better prices for consumers. "We have created a basis for competition between the various participants in the initiative for these 50 essential products," Minister of Economy Bogdan Bogdanov said in a televised interview. According to him, talks on the topic between the ministry and the Commission for the Protection of Competition are forthcoming.




Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

President convenes the newly elected parliament on November 11

Before the start of a ceremony in Sofia for presenting the "Manager of the Year" awards, President Rumen Radev announced that he will convene the 51st National Assembly on November 11.  Asked whether he would approach the..

published on 11/5/24 8:45 AM

Bulgarian candidate for EU commissioner Ekaterina Zaharieva to be heard by EP

Bulgaria's candidate for European Commissioner for Start-ups, Research and Innovation, Ekaterina Zaharieva , will be heard today by the European Parliament's Industry, Research and Energy Committee.  The hearings for the Commissioner candidates,..

published on 11/5/24 7:15 AM

Sub-zero morning temperatures and cool sunny weather during the day

On Tuesday , the lowest temperatures will be between minus 3° and 2°C, in Sofia - around minus 1°C. During the day it will be sunny, with light to moderate easterly wind. The highest temperatures will reach 10° to 15°C; in Sofia -..

published on 11/4/24 6:50 PM