Deputy prime minister and economy minister Alexander Pulev says Lukoil Neftochim Burgas and industry as a whole now have extra liquidity, meaning more free cash, after the ban on diesel exports was lifted. The ban was withdrawn without causing a shortage in Bulgaria's economy or fuel system, he told an international energy conference at the Grand Hotel Sofia.
The Bulgarian Petroleum and Gas Association organised the conference, "Energy Alliance in CEE – Central and Eastern Europe Together for a Competitive and Secure Energy Future". It was held under the patronage of the Ministry of Energy.
Bulgaria must be at the core of the EU, not on its edge, especially in energy links, Pulev said. He said this needs better connections, more investment and more sources of supply. He named public-private partnerships for cross-border infrastructure as one such investment.
"Energy is the bloodstream of every industry, of every economy," the minister said.
The world is going through an economic change with no precedent, and geopolitics is reshaping global energy, the economy and industry, Pulev said. Wars hit households and business through broken supplies, price shocks, inflation and lost competitiveness. "We know that every bomb, every missile that falls in Ukraine and in Iran is felt in every household," he said.
The government backs the green transition, but not at the price of making Europe even less competitive or putting more pressure on prices, the deputy prime minister said. He said the transition must take account of the needs of each country.
If Bulgaria works with its partners in Central and Eastern Europe, its voice in defence of industry and consumers will be stronger, Pulev said. Strength lies in partnership, open dialogue and closer integration, he said.
The government's task is to find local answers to global problems, working with industry and experts, the minister said. The cabinet has already taken steps for different groups of people, which Pulev said support both industry and small and medium-sized business.
The state budget and public finances are not in the best shape, so Bulgaria must attract private capital and make good use of EU funds to modernise its infrastructure as a whole, the minister said. The government is preparing a law on public-private partnerships, which Pulev called a longer-term initiative.
Administrative reform is the cabinet's other main topic, the minister added.