site.btaPresident Radev at Meeting with Lukoil: High Fuel Prices Leading Cause of Price Increase of All Goods, Services

President Rumen Radev had a working meeting with representatives of the management of energy company Lukoil on Thursday in his administration building, where he said that high fuel prices are among the leading causes behind the price increase of all goods and services, and are causing a contraction in consumption, which is results in losses not only for consumers but also for producers, Radev's press secretariat reported.  

Radev added that Lukoil is an important part of the Bulgarian economy, one of its main employers, and a major fuel producer with a dominant share of the market. The value of the produced fuels largely determines the development of the economy and the inflationary processes, which define the strategic importance of the company for the Bulgarian economy, especially in times of crisis. 

Lukoil President Vadim Vorobyov said that in recent days representatives of the Bulgarian government and his company have discussed possible actions to stabilise the economic environment as well as to counter inflation.