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Alexander Pulev: We have 3 months to earn back €3 billion for the economy

Pulev pointed out that the state of our finances is absolutely critical and Finance Minister Galab Donev and his team are conducting analyses and will give a briefing and provide detailed information next week

Congratulations to Dara, for the historic success of putting Bulgaria on the map of world talents, were the first words of Deputy Prime Minister and Minister of Economy, Investments and Industry Alexander Pulev in an interview with the Bulgarian National Radio.

"We have 3 months to earn back €3 billion for the economy and overcome 3 years of inaction", he said.

And for Bulgaria's hosting of Eurovision next year, he promised:

"Full support for Bulgarian talents, this was included in our election platform and is now a major commitment. Everything pre-election will be included in the party's program."

Pulev pointed out that the state of our finances is absolutely critical and Finance Minister Galab Donev and his team are conducting analyses and will give a briefing and provide detailed information next week. The Deputy Prime Minister did not specify any parameters of the "critical finances" critical – "the situation is catastrophic!"

"We must now carry out all these painful reforms and the emphasis is on European funds. We need tireless work and we are obliged to activate these resources - structural reforms are against them and we will rely on the powerful support in parliament to overcome all the deficits from previous governments. We have a responsibility as a government to structure the programs as much as possible so that they reach the regions," the Deputy Prime Minister and Minister of Economy commented on Nedelya 150.

And he added:

"All the crises and inefficiencies inherent in the system, I am talking about a deficit in morality, integrity and expertise. It is difficult, it is very difficult, we have not promised miracles, there is no way we can overcome these crises and set a neutral budget. I know that a painful administrative reform is coming and spending in every component will have to be optimized. We will have to bear this political responsibility. We don't have many options and are limited in the "time" factor, and painful decisions must be made this year.

According to Alexander Pulev, everything depends on the state of the market:

"Currently, there is a spiral of crises, we have a responsibility to consumers and families, and to businesses to organize a network of forms of support and together to overcome the crises."

He pointed out that currently there is a large dose of imported inflation, but there are also local problems in unfair trade practices and speculation.

"We have developed measures that combat unfair trade practices and speculation and for the market to function on a market principle. And this is violated especially in the modern trade segment. We are not betting on a ban on a regulatory basis. We do not impose any non-market measures, all measures are market-based", Pulev is convinced.

And he claims that "now there is a market anomaly and the Bulgarian consumer pays a 3 times higher markup on essential foods, higher based on the norms":

"Reported information shows that the chains impose up to 130% markup on a normal 30%. 3 times higher prices compared to the same foods in Europe. We are not at war with the chains but with unfair trade practices. We want to impose rules that apply to everyone, we do not want socially responsible activity from the chains, we want them not to impose 2 times higher prices and for the attitude towards Bulgarians to be the same as towards their own shareholders. We have defined 33 unfair trade practices and Bulgarian producers are at the heart of our initiative."

The Deputy Prime Minister also announced the creation of a new unit with control and regulatory bodies for coordination, and the goal is to strongly support domestic producers and consumers.

"This unit will coordinate and I will expect results from them every week. I was a manager in the private sector and I know that first a construction is made with the participation of all interested parties. The other direction in this unit is a center of competence and a fair market price will be calculated every week. It is not mandatory, but it will show what the prices are in the absence of speculation with a normal markup, as in Europe 25 – 30% and lack of unfair commercial practices.

Pulev was categorical that they will demand information, accountability and transparency and "the state will not be an indifferent observer, we will act as a government and have the courage to protect the Bulgarian consumer":

"Let's tell the chains that they must follow the rules - a business empire in modern trade consolidates a turnover of 5 billion euros per year, and a sanction of 10% of the turnover will have a strong disciplinary effect. I believe that this will change the overall picture of the market. My appeal at the hearing of the Budget and Finance Committee in the National Assembly to accelerate, as a final step, the judicial reform and these efforts of ours of the executive branch, when the judicial proceedings are established, and the judiciary does its job, let's see the effect. We do not want market distortion, but the elimination of market anomalies. Our goal is to see the results within a few months, we are talking about a short-term effect.

The Deputy Prime Minister and Minister of Economy commented on Nedelya 150 and the fuel and energy crisis and explained in detail what measures are being taken to control the situation:

"With Deputy Prime Minister Pekanov, we will capitalize on the region (Stara Zagora), we will provide the necessary form of financial support, while we have a sustainable position for negotiations with Europe."

"The main role of the government is to have functioning institutions and clear rules, and all ministries with one principle to provide full track and administrative support to business. For this to happen, predictability and better conditions for business are needed, Pulev promised.

He explained that he is currently in Stara Zagora and that about 200 million euros will be given to the mining industry and energy, but nothing will be closed. Regarding investments, the Deputy Prime Minister said that there will be a special unit at the Cabinet of Ministers for this sector as well.