Employers' organisations call national protest on May 18 over high electricity and fuel prices

The nationally representative employers' organisations - the Industrial Capital Association of Bulgaria (ICAB), the Bulgarian Industrial Association (BIA), the Bulgarian Chamber of Commerce and Industry (BCCI), the Confederation of Employers in Bulgaria (CEIB) and the Union for Industrial Initiative (UIE) are organising a national protest on 18 May for secure and affordable energy.

"Fuel and electricity prices have reached unaffordable levels for the vast majority of non-household consumers. There is a significant price surge, rising rate of inflation, which is eating away the income of every Bulgarian citizen every day.

The state has allowed itself to treat the businesses, which taxes support it, like beggars waiting for handouts. We are the state, not the government officials! Because a state without solvent and growing businesses, without jobs and without taxes cannot exist - it is high time this was realised!

The widely proclaimed "measures" to support business are in fact many times less than those announced and are extremely insufficient, untimely and ineffective.

The business does not want aid - business wants a peaceful environment in which to earn its own money, sustain jobs and create wealth. The business wants certainty and predictability of supplies and prices of raw materials and the return, with appropriate measures, of what is over-taken at source - businesses and people," the employers said in their reasons for calling the national protest.

They recall that for almost a year no government has listened to the clear forecasts, arguments and proposals of the business community.

"This deafness of the government has brought our economy to the current impasse. This deafness is taking our country to an economic bottom from where we will find it difficult to rebound if we continue to fly downwards at this frightening pace," the employers said.

They are demanding an extension of the compensation mechanism for the high electricity prices for as long as it is necessary: compensation of 75% of the difference between the average monthly price for the relevant month of the IBEX and the price of the energy mix, using funds from the Electricity System Security Fund formed from the excess profits of power producers.

Another demand is that the difference between the price of gas when using intermediaries and the price of gas that we would have received under the formula in the long-term contract with Gazprom Export be borne as compensation by the budget.

The employers' organisations want a mechanism to be developed and implemented to ensure a long-term supply of affordable electricity, natural gas and oil products.

Last but not least, they demand a programme to curb inflationary processes and restore supply chains.

If the above demands are not met, the employers' organisations will demand the resignation of the government.

They say that their protest is not political, but for saving the Bulgarian economy, for predictability and competitiveness, for saving jobs and incomes, for reducing the rate of inflation and for stopping the impoverishment of the nation.

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