The Council of Ministers of the Republic of Bulgaria has approved the creation of a new state-owned company - 'Store for the People' EAD, headquartered in Sofia. The decision was accompanied by a decree for changes in the budget of the Ministry of Agriculture and Food for 2025, related to the establishment of the company.
'Store for the People' EAD will engage in the trade of food and industrial goods, focusing on offering products from Bulgarian manufacturers. The main goal of the company is to provide access to Bulgarian goods at affordable prices, especially in smaller settlements, and to reduce dependence on imported products in the Bulgarian market.
The creation of the state-owned retail chain was approved by the National Assembly in March of this year. According to the provisions adopted then, the company will be established with a capital of 10 million leva and will trade in essential food products with a trade markup of up to 10%.
Background and Expectations
The idea of creating 'Store for the People' is not new. On July 23, the Council of Ministers did not consider the formation of the company at its regular meeting, removing this item from the agenda. The current decision shows that the government has decided to proceed with the implementation of the project.
'Store for the People' is expected to play an important role in ensuring affordable prices for basic food products for Bulgarian consumers, especially in conditions of rising inflation and economic uncertainty. At the same time, the company will support local producers by giving them priority in offering goods.
It remains to be seen how the initiative will develop and what its impact will be on the market for food and industrial goods in Bulgaria. Experts will closely monitor the effect on competition and prices in the sector.