Deputy Prime Minister and Minister of Economy Kornelyia Ninova met with employers to discuss the impact on the Bulgarian economy of the sanctions imposed on Russia, possible counter-sanctions and the consequences they will have for Bulgaria, the press service of the Ministry of Economy has announced.

The representatives of Bulgarian businesses expressed their concern that the war is impeding raw material supplies in the region. If gas supplies are disrupted, that will push the price of Bulgarian commodities up, making them uncompetitive. There also exists a risk of transport and logistical problems and breaches of contract for reasons of force majeure. The employers also insisted on an extension of energy compensations to April-June, as well as on support for resolving the problem of the transport vehicles blocked at Ukraine’s borders.

The employers stated that they are ready to employ Ukrainian citizens. They say they want to see corridors provided for the import of metals and other raw materials from Russia and Ukraine, as well as export of their production. On her part, Minister Ninova informed the employer organizations of the measures the government is taking in preparation of the state reserves, for receiving Ukrainian citizens and for providing logistical support to Bulgarian companies. The commercial representative in Bucharest has been seconded to the border with Ukraine to render assistance to the Bulgarian and the Ukrainian citizens.

Minister Ninova expressed support, in response to the demand by businesses for the direct aid to Bulgarian companies to be higher than the financial instruments under the recovery and resilience plan. Minister Ninova stressed that “the Bulgarian economy needs direct support, not more credits.”  In her words, the European Commission has left the Bulgarian government to decide what the ratio should be, and it must be in favour of Bulgarian entrepreneurs and industry.