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In Bulgaria, a temporary rise in fuel prices could occur in the coming months, warned Asen Vassilev, leader of the opposition party “We Continue the Change”, during a visit to Sliven.
Vassilev explained that sanctions imposed on Russian oil companies Rosneft and Lukoil have already pushed oil prices up on global markets, a trend that may soon be reflected in Bulgarian fuel costs. He noted that when such market shifts occur, it is common for a month or two of elevated prices to follow before the situation stabilizes.
The politician stressed the importance of securing fuel supplies, particularly if no resolution regarding Lukoil’s ownership emerges by November 21. He highlighted that the company controls the largest storage base in the country, and any disruption in access could seriously jeopardize the nation’s fuel availability. “Unless the refinery, gas stations, and storage facilities are sold to non-Russian owners, the government must have a contingency plan,” he added.
Vassilev also noted that following the state’s withdrawal of Lukoil’s port concession in 2023, the port is now available for other suppliers, allowing vessels not associated with Lukoil to operate safely.
Turning to broader economic matters, he said that Bulgaria’s 2025 budget deficit could remain within three percent if state-owned enterprises do not receive excessive funding. On the introduction of the euro, he reiterated that the process is irreversible.
Bulgaria will face another day of severe winter conditions on Monday, January 19, with persistently low temperatures across the country and hazardous cold prompting a yellow weather warning nationwide.
The Prime Minister of North Macedonia, Hristijan Mickoski, has said his government will focus first on meeting the country’s outstanding obligations linked to its European integration, with an emphasis on reforms.
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Despite Sofia being considerably cheaper than major European capitals overall, certain everyday items cost more in the Bulgarian capital than in cities like London and Berlin. Milk stands out as a notable example.
Outgoing Deputy Prime Minister and Minister of Innovation and Growth Tomislav Donchev addressed the issue of labor imports in parliament, stating that bringing in workers from non-EU countries is only a temporary solution.
Outgoing Deputy Prime Minister and Minister of Innovation and Growth Tomislav Donchev addressed the issue of labor imports in parliament, stating that bringing in workers from non-EU countries is only a temporary solution.
Bulgaria’s outgoing Agriculture Minister Georgi Tahov has assured that the European Union’s trade deal with Mercosur will not negatively affect the country’s economy, pointing to the very limited trade between Bulgaria and the South American bloc.
Energy Minister Zhecho Stankov has firmly rejected claims by former Finance Minister Asen Vassilev from "We Continue the Change" that Bulgaria’s inflation is driven by high household electricity prices
Simeon Dyankov, chairman of Bulgaria’s Fiscal Council, has warned that price increases implemented by traders are likely to remain in place despite new laws and fines
The Bulgarian passport offers its holders visa-free access to 178 countries and territories, placing it 11th globally for travel freedom and expedited border crossing, according to Henley & Partners.
The U.S. Department of State, the University of National and World Economy (UNWE), and Bulgarian Energy Holding (BEH) yesterday concluded two seminars on stakeholder engagement and industrial applications of small modular reactors (SMRs)
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