Prime Minister: Declining purchasing power is turning into a challenge

Rising food prices and the declining purchasing power of Bulgarians are becoming a real challenge that requires adequate and timely measures, said Prime Minister Rumen Radev at a meeting of the Council of Ministers. Those present included ministers, regulators, labour unions, employers and industry organisations.

Mr Radev emphasised that while the state will not set prices, it is obligated to ensure clear regulations and oversight to combat unfair trade and protect consumers and producers.

He said that bills based on European models for protecting competition and combatting unfair trade practices had already been submitted to Parliament.

The Prime Minister added that the alarming decline in the production of milk, meat, fruit and vegetables endangers the country's food security, and that measures are needed to support domestic production, short supply chains, and quality control.

Editor: Miglena Ivanova