site.btaEconomy Minister Ninova, Employers Discuss Russian Sanctions' Impact on Bulgarian Economy 

Deputy Prime Minister and Economy and Industry Minister Korneliya Ninova conferred with employers here on Saturday to discuss the impact of the sanctions against Russia on the Bulgarian economy, possible counter-sanctions and their impact on Bulgaria, Ninova's Ministry reported. 

The Bulgarian business representatives expressed concern that the war will impede the supply of raw materials from region. If natural gas supply is cut off, the prices of Bulgarian products will increase and they will become absolutely uncompetitive. 

The risk of transport and logistical problems and failure to honour contracts due to force majeure circumstances, as well as continuing the energy compensations in April and June were also discussed. The Bulgarian companies asked for support in resolving the problem with the blocked transport vehicles at Ukraine's borders.

The employers said they need workers and are ready to accept Ukrainian citizens. They also wish for corridors to be secured for the import of metals and other raw materials from Russia and Ukraine, as well as the export of products. 

Ninova told the employer organizations about the measures taken by the Government in preparation of the State reserves, accepting Ukrainian citizens and providing logistical support to Bulgarian companies. 

The employers further asked that the direct aid for Bulgarian companies exceeds the financial instruments in the Recovery and Resilience Plan, for which Ninova expressed full support. 

The Bulgarian economy needs direct support and not more loans. The European Commission delegated to the Bulgarian Government to decide on the ratio, which must benefit Bulgarian entrepreneurs and production, she said.