Bulgaria capitals

Bulgaria plans to ease pressure on cost of living after protests

Bulgaria plans to ease pressure on cost of living after protests

Bulgaria plans to ease pressure on cost of living after protests

Pressure

Sofia, May 18, 2022 The Bulgarian government has adopted a series of measures to ease the pressure on its citizens after protests against the rising cost of living in the face of the Russian invasion of Ukraine.

Prime Minister Kiril Petkov said on Wednesday the relief package would help businesses, socially disadvantaged people, young families with children and pensioners.

The measures will cost the EU’s poorest member country about two billion Bulgarian levs (US$1.08 billion).

Truckers and workers in other sectors have nonetheless protested with street blockades in and around the capital Sofia and other towns against the rising prices.

Protesters’ demands include scrapping the biodiesel fuel requirement and halving the consumption tax.

Inflation in Bulgaria reached 14.4% in April compared to the same month of the previous year, according to official data.

From July 1, the government plans to lower taxes on products like bread, while child benefits and pensions will be increased.

The cheapest types of fuel, gasoline and diesel, are expected to be made cheaper by around $0.14, although how this will be achieved in practice is unclear.

In the meantime, VAT on central heating and hot water is to be reduced from the current level of 20% to 9%.

(NOPE)