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

Borislav Sarafov

Borislav Sarafov has the qualities to be elected Prosecutor General

Borislav Sarafov meets all the requirements and has the qualities to be elected Prosecutor General. This position was taken by the committees on attestation and competitions and on professional ethics at the Prosecutors College of the..

published on 11/26/24 1:18 PM

The first statue found at Heraclea Sintica probably depicts the grandson of Emperor Octavian Augustus

The first marble statue discovered in the ancient city of Heraclea Sintica on 3 July,  is probably of Lucius – grandson of Roman Emperor Octavian Augustus, announced Prof. Lyudmil Vagalinski who is in charge of the excavations...

published on 11/26/24 10:30 AM

Rumen Radev in Vietnam: Wise diplomacy can prevent war

President Rumen Radev, who is paying an official visit to Vietnam, delivered a lecture on the occasion of the 75 th anniversary since the establishment of diplomatic relations between the two countries at the Diplomatic Academy of the Ministry of..

published on 11/26/24 9:30 AM