Finance Ministry does not expect inflation and unemployment to increase simultaneously

"The finance ministry does not expect inflation and unemployment to increase simultaneously, because economic growth remains positive,” Deputy Prime Minister and Finance Minister Asen Vassilev explained on June 7.

Compensations for the high price of electricity for businesses will be made according to a new procedure defined by the Energy Act, Vassilev further explained, referring to employers' criticism that the update did not allocate funds to help industry.

Vassilev added that today he will meet with employers and trade unions to comment on the proposed budget update.

"This budget does several things. As you can see, part of the revenue cuts taxes, which puts more money in the pocket of working parents first of all, secondly, it reduces the final cost to consumers of a number of goods, mostly energy related. So from that point of view, it helps to keep inflation down and from the other point of view, people have more money to meet the higher costs," Deputy Prime Minister Assen Vassilev said.