Cheaper medicines in October

“A small reduction in VAT on medicines will not have any effect at all,” said Plamen Tsekov, head of the National Health Insurance Fund (NHIF). He explained that this would not be to the benefit of anyone, consumers included. Tsekov reminded that practice has proven that when VAT falls by up to 5%, producers and traders to share the difference in price and ultimately, consumers do not feel the decrease. NHIF’s head promised to negotiate in October the prices of all medicines which the fund buys from different companies. “Medicines will be cheaper but I cannot specify how much,” added Tsekov. He explained that the Finance Ministry makes its calculations with respect to the State’s budget and if it finds that VAT on medicines could be changed or differentiated, it would be good. But if it does not coincide with the interests of the State and it cannot afford it, will remain unchanged.

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