BIA SUPPORTS THE PRESIDENTS' VETO

SUBJECT: Return for new discussion by the President of the Republic of Bulgaria of § 12a of the Law on Measures and Actions during the State of Emergency, announced by a decision of the National Assembly of March 13, 2020, adopted by the 44th National Assembly on March 20, 2020 .

DEAR MRS. KARAYANCHEVA,

DEAR LADIES AND GENTLEMEN OF THE PEOPLE'S REPRESENTATIVES,

In connection with the right exercised by the President of the Republic of Bulgaria under Art. 101, para. 1 of the Constitution of the Republic of Bulgaria for return for new discussion of the provisions of § 12a of the Law on Measures and Actions during the state of emergency, declared by a decision of the National Assembly of 13 March 2020, adopted by the 44th National Assembly on 20 March 2020, the Bulgarian Chamber of Commerce called on you to repeal the texts adopted by §12a.

The Republic of Bulgaria is a country with a functioning market economy, which requires the ability of economic entities to cope with competitive pressure and market forces, both on the Bulgarian and on the European and international markets. The consequences of the introduction of fixed prices or their determination by administrative means, in contrast to the economic levers of pricing, will be detrimental to the Bulgarian economy.

Regardless of the current crisis situation, we call for the adoption and application of market approaches to overcome distortions and abuses in the prices of scarce goods. These measures should not lead to a further reduction in the competitiveness of the Bulgarian economy, which will already be severely tested in the coming months, and probably years.

WITH RESPECT,

RADOSVET RADEV

Chairman of the Board of BIA