Title: Bulgaria‘s Failing Price Control Mechanisms: A Financial Expert‘s Perspective
In an interview with bTV’s "Face to Face" program, renowned economist Levont Hampartsumyan has underscored the futility of waiting for the government to regulate prices, citing the failed attempts during Bulgaria’s decades under communism. His views were reported by novini.bg.
"As long as there’s someone willing to pay, prices will rise. The control and competition mechanisms keep prices in balance. Both are broken in Bulgaria," Hampartsumyan asserted. He believes the only remaining role for authorities is to foster conditions that promote competition and control.
The financial expert dismissed the attempts by industry players to manage prices, likening them to hapless attempts by-cartoon character Mickey Mouse. "Prices are managed by market conditions," he stated.
Hampartsumyan also argued that traders have the right to increase prices, stating that a drop in market share or customers would pressure them to lower prices. He noted that the cheapest bread is not necessarily genuine bread, but often a blend of feed wheat and additives.
The economist’s perspective arrives amid ongoing debates about price regulation and control in Bulgaria’s markets. With both formal and informal controls proving ineffective, some advocate for stronger government intervention, while others pin their hopes on market-driven solutions.
Hampartsumyan’s interview has sparked discussions among economists and policymakers, highlighting the need for comprehensive reforms to restore effective price controls and competition in Bulgaria’s markets.
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