Bulgarians Should Brace for Hard Winter Crisis Similar to Winter of 1997

Politics » DOMESTIC | September 27, 2021, Monday // 14:06
Bulgaria: Bulgarians Should Brace for Hard Winter Crisis Similar to Winter of 1997 gov.bg

The name of the person who currently keeps social peace in Bulgaria is Ivan Ivanov, head of the Energy and Water Regulatory Commission. The snowball, however, has got rolling and cannot be stopped. Krasimir Dachev, Deputy Chair of the Bulgarian Chamber of Commerce and Industry, warned referring to the upcoming hard winter similar to the critical winter we had during the tenure of PM Jean Videnov in 1997.

In the studio of Nova TV, Dachev said that the expectations of the business are the price of electricity to reachBGN500 at the end of the year, this is a price that is unbearable and many enterprises will simply stop working. Currently, this price is 320, and what household consumers pay is artificially cut down to BGN119. in order to prevent social unrest.

The problem is that the enterprises will simply stop - it will not be just threats, Krasimir Dachev repeated several times.

In addition, natural gas  currently sells at three times the price. There is also speculation with carbon emissions in Europe.

"It's going to get a lot tougher. Companies will start shutting down, it will send up the number of people who will rely on state aid. Inflation is underway now, it is yet to start affecting all sectors, started with power generation, the general trend will be devaluation", predicts Dachev. He accused the government of not developing long-term and consistent policies, and for six months it has only been busy peddling pre-election populism. And he predicts that the crisis is just beginning. At the same time, the civil service is in complete shambles it is accustomed to working following instructions, and the political crisis is detrimental to business...

We remind that,  Caretaker Prime Minister Stefan Yanev met with representatives of the Bulgarian Federation of Industrial Energy Consumers, the Bulgarian Chamber of Commerce, the Confederation of Employers and Industrialists in Bulgaria and the Association of Industrial Capital as early as the end of June, the last of several other such meetings, but there is no result  at this stage.

As early as mid-August, employers demanded the resignations of the management of the Bulgarian Energy Holding (BEH) and the Energy Ministry because of the too  expensive electricity for  businesses. The head of the AICB Vasil Velev criticized the inactiveness o caretaker Minister Andrey Zhivkov and his unsuccessful attempt to change the leadership of BEH.

A meeting on the high prices of electricity also took place last week after Stefan Yanev took office for the second time as caretakerprime minister. This meeting ended with no concrete result either.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Domestic » Be a reporter: Write and send your article
Tags: Bulgaria, electricity prices, Stefan Yanev, winter crisis

Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria