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Bulgaria: Government Liberalizes Prices

Sofia, 21 April 1997 (RFE/RL) - Bulgaria's interim Government today took action to liberalize prices, hoping to stimulate competition and reduce inflation. The government announced that some prices will remain "supervised." Prices on goods, such as grain and bread, yogurt, white cheese, cooking oil, rail fares and fees, and drinking water will remain under Government supervision.

Interim Prime Ministr Stefan Sofiansky today also announced that controls will be lifted entirely on prices of liquid fuels, effective Thursday. Sofiansky said he does not expect a big jump in fuel prices, and that the action was taken in consultation with the International Monetary Fund.

Interim Finance Minister Svetoslav Gavrisky also announced today that current hard-currency reserves ensure Bulgaria will not default on foreign loan payments in June.