From £900 a month to £10,000 in 2022 – this is how businesses on the Island go bankrupt
01 September 2022Thursday, 9:47 p.m.
Author: Georgi RUSCHEV
Bulgaria is in political weightlessness, and the crisis is looming and there seems to be no solution
In recent weeks, shocked Europeans have already begun to demonstrate their significantly increased electricity bills, which raises the question – is the same fate awaiting us because of the severe energy crisis that Europe is in because of the war in Ukraine?
The invoices are truly brutal. The increase is 300 to 700%, or electricity bills are between 3 and 7 times higher, compared to the same period last year. And businesses are already filing for bankruptcy unable to pay such sums in Britain and Ireland.
“I arrived at work today only to be told that we will most likely be closing the store. Our electricity bill is more than 10 times higher than before – from £900 to £10,058! This is a small family business that has been around since 1982. Tragedy,” wrote Natalie Hood.
“We have closed our tea shop which we have been running successfully for 7 years due to the huge increase in the prices of food, oil and overheads like electricity and water. We can’t stand it,” writes Helen Panton.
The web is literally flooded with such posts. Given the fact that in Bulgaria we are currently in political weightlessness, it is very reasonable to consider that a similar fate awaits us. There will probably be no solution to the political crisis in the upcoming parliamentary elections, and with that – the optimism that this economic and energy crisis “will not be felt” is starting to evaporate gradually.