site.btaEconomy Minister Does Not Expect Inflation to Rise Considerably

Caretaker Economy Minister Nikola Stoyanov does not expect inflation to increase considerably. “Inflation is around 19% on an annual basis according to the latest data. More importantly, I believe that this will be the peak and if it is not, I don’t expect a big increase from now on,” Stoyanov said on Nova TV Sunday. 

He expects any further increase to be just over a percentage point. 

He expressed hope that with the steps that are currently being taken, energy prices  will stop going up. “From now on, I expect a drop in fuel prices and I expect a drop in gas prices, gradually,” he added.

There will be electricity for everyone, and hopefully gas as well, and at affordable prices, Stoyanov added. “What gives me certainty is that we are talking to everyone and there are options, including the fact that the [Greece-Bulgaria gas] interconnector is ready and will be operational from October 1, and we will be able to use Azerbaijani gas in full volume,” he noted. 

Stoyanov said he unconditionally supports economic sanctions against Russia. 

He said that of all EU members, the Bulgarian economy is most dependent on Russia as 60-70% of Bulgarian exports go there. 

The minister was adamant that Bulgaria is not buying Russian gas from Gazprom in any way at the moment.

There have been allegations that Bulgaria continues to buy gas from Gazprom - through intermediaries and at higher prices - even after it cut off supplies to this country in April over Sofia's refusal to buy in roubles.