NEWS

 

 

High fuel prices lead to hikes in all commodities prices and a contraction in consumption and both consumers and producers lose, the Head of State said

 

It is necessary to identify measures to stabilise the economic environment and to combat inflation in favour of the Bulgarian consumer, strictly following market mechanisms. This is what President Rumen Radev said at a 2 Dondukov working meeting with officials from the energy company Lukoil. During the talks, the possibilities for curbing inflation and for a more predictable economic environment were discussed.

 

High fuel prices are among the leading reasons for the endearment of all goods and lead to a contraction in consumption, which is a loss not only for consumers but also for the producer, the Head of State said. Radev added that the economy and inflation depend to a large extent on the value of fuel production, which also sets Lukoil's strategic importance for this country, especially during crises.  The President highlighted the company's important role as a major fuel producer, holding a dominant market share in Bulgaria. He added that the upcoming Lukoil management meeting with the Bulgarian government is a good opportunity to identify effective solutions to combat inflation in the country.

 

Lukoil President Vadim Vorobyev said that in recent days, representatives of the Bulgarian government and the company have discussed possible actions to stabilise the economic environment and to stifle inflation.

 

 

The meeting was held at the initiative of Denmark's ambassador to Bulgaria Flemming Stender within the framework of the Danish Presidency of the Council of the EU

In his speech, the president pointed out that Bulgaria highly values its relations with Iraq, which is an important partner in the Middle East region

Taking advantage of their geostrategic position, Bulgaria and Georgia have the potential to deepen their connectivity in various areas such as transport, energy, and the digital sector, which will contribute to promoting the economy, investment, and prosperity in the Black Sea region. This was stated by President Rumen Radev, who held a meeting with the Speaker of the Parliament of Georgia, Shalva Papuashvili.

The two were unanimous that restoring peace in Europe through diplomacy is a priority for the EU and the only way to ensure the long-term security and stability of the Old Continent.