Bulgarian Employers with a National Protest on May 18 over Electricity and Fuel Prices

Business » INDUSTRY | May 11, 2022, Wednesday // 16:29
Bulgaria: Bulgarian Employers with a National Protest on May 18 over Electricity and Fuel Prices

The nationally representative employers' organizations - the Bulgarian Industrial Capital Association (BICA), the Bulgarian Industrial Association (BIA), the Bulgarian Chamber of Commerce and Industry (BCCI), the Confederation of Employers and Industrialists of Bulgaria (CEIB/KRIB) and the Union for Private Economic Enterprise (SSI) will have a protest on May 18 for secure energy at affordable prices.

"Fuel and electricity prices have reached unaffordable levels for the majority of non-household consumers. The price chain has led to avalanche of inflation, which eats away at the income of every Bulgarian citizen with each passing day.

“The state has allowed itself to treat the tax-free business as a beggar waiting for alms. We are not government officials but we are the state! Because a state without solvent and developing business, without jobs and without taxes cannot exist - it is high time to realize this!”

“The widely proclaimed ‘measures’ in support of business are in fact many times less than announced and are extremely insufficient, untimely and ineffective.”

Business does not want aid - business wants a peaceful environment in which to earn money, maintain jobs and create goods. The business wants security and predictability of the deliveries and the prices of the raw materials and return with appropriate measures to what is surpassed at the source - the enterprises and the people”, the employers announced in the reasons for convening the national protest.

They recall that for almost a year, no government has heard clear forecasts, arguments and proposals from businesses.

"This managerial deafness has brought our economy to its current stalemate. This managerial deafness is leading our country to the economic bottom, from which it will be difficult to push back if we continue to fly down at this terrible pace," said the employers.

They call for an extension of the compensation mechanism for ultra-high electricity prices for as long as necessary: ​​Compensation of 75% of the difference between the average monthly price for the respective month of the IBEX and the price of the energy mix using funds from the Security Fund of the electricity system, formed by the EXCESS profits of energy producers.

Another insistence is that the difference between the price of gas in the use of intermediaries and the price of gas, which we would receive according to the formula in the long-term contract with Gazprom Export, be taken as compensation from the budget.

Employers' organizations want to develop and implement a mechanism to ensure long-term supply of electricity, natural gas and petroleum products at affordable prices.

And last but not least, they are pushing for a program to curb inflation and restore supply chains.

In the event of non-compliance with the above requirements, employers' organizations will demand the resignation of the government.

They say their protest is not political, but to save the Bulgarian economy, to be predictable and competitive, to save jobs and incomes, to reduce inflation and to stop the impoverishment of the nation.

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