PM Rumen Radev: Competitiveness of the Bulgarian Economy Is Key to Sustainable Development of the Country

The competitiveness of the Bulgarian economy is of key importance for the sustainable development of the country and the government remains open to dialogue with employers' organisations in search of workable solutions. This was stated by Prime Minister Rumen Radev during a meeting at the Council of Ministers with representatives of the Confederation of Employers and Industrialists in Bulgaria (KRIB), the Bulgarian Industrial Association (BIA), and the Bulgarian Federation of Industrial Energy Consumers (BFIEC), according to the government press office. Energy Minister Iva Petrova also took part in the meeting.

Business representatives expressed their support for the reforms undertaken by the government, while highlighting the challenges facing Bulgaria’s energy-intensive industries and the opportunities to address them at both national and European levels.

Employers’ organisations noted that around 80% of the country’s energy-intensive companies are export-oriented and called for improved measures to safeguard their competitiveness. The discussions also focused on opportunities to attract more funding from European programmes to the sector, as well as on the more effective use of resources from the Electricity System Security Fund, so that compensation mechanisms related to electricity prices do not place an additional burden on the national budget.

Prime Minister Radev also emphasised Bulgaria’s position regarding the forthcoming EU Multiannual Financial Framework (MFF), stating that “industrial convergence” is among the country’s key priorities.

Rumen Radev, Prime Minister of Bulgaria:
"Together with our European partners, we discussed the fair allocation of funds that would lead to genuine convergence in industry, innovation and digitalisation."

It should be recalled that during his visit to Berlin, Prime Minister Rumen Radev said that Bulgaria has reservations about the new mechanism for determining the EU’s Multiannual Financial Framework, under which Bulgaria’s contribution would double while the country also faces additional adaptation costs linked to the introduction of the euro.