The Association for Modern Trade denied "fabulous profits in retail"

The Association for Modern Trade with a sharp position on the public boycott against prices in stores.

Here is the full text of the position of the SMT:

Once again, certain factors in the state are trying to involve retail chains in Bulgaria in their political struggles. It does not honor leading representatives of political parties and senior state officials to manipulate public opinion with absolutely false statements regarding:

– The growth of prices and inflation, which is at its lowest level in three years.

– Fabulous profits in retail trade, which neither independent external auditors nor government authorities have ever established.

– The market behavior of large retail chains, which fully complies with the provisions of the Law on Prohibited Agreements, Decisions and Concerted Practices, confirmed by the Decision of the Competition Commission No. ACT-81-23.01.2025.

It is hardly a coincidence that all this is happening at a time when our country is on the verge of meeting the inflation criterion for the eurozone, attempts are being made to prepare a realistic state budget with a minimal deficit, which will be a kind of test for the government, and elections of members of a number of regulatory bodies are being prepared.

Against this background, the desire to undermine the prestige not only of certain market participants, but also of some state institutions (the most blatant example is the pressure on the NSI team) is particularly harmful and dangerous.

The members of the Association for Modern Trade declare that they will continue to provide goods and services at competitive prices and with care for consumers as they have have always done so far.

We interpret the calls for a boycott in recent weeks as calls for a boycott of honest, transparent and responsible business - a significant investor, a good taxpayer and a top employer.

We recall that modern trade contributes to over 8% of the country's GDP and creates jobs in a number of areas - from agriculture and manufacturing, through logistics and transport to security, advertising and marketing.

Modern trade is the basis of competition and sustainable development in Europe, working to support diverse industrial ecosystems and supplying different communities with a huge variety of products and services. The industry is a key factor in the recovery of the EU economy and its development in the coming years, and according to forecasts, 1.3 billion euros will be invested in Bulgaria in three main areas - digitalization, sustainable development and skills.