Bulgaria's Heavy Industry Can Afford 20% Pay Raise – Expert
The productivity in certain sectors increases but this does not affect wages, the Confederation of Independent Trade Unions of Bulgaria president Plamen Dimitrov claimed.
"There are at least 7-8 branches in the heavy industry sector, which report productivity rates growth of 17% to 30 %, which means that wages can be increased by 10% to 20%," Dimitrov told Bulgarian Nova TV.
According to him, up to 50% of labor productivity growth is not reflected in employees salaries in certain industrial sectors. Therefore, a pay raise is possible without it resulting in bankrupting businesses and increasing unemployment.
According to the Confederation of Independent Trade Unions of Bulgaria (KNSB), some BGN 100 – BGN 150 monthly salary increase is possible in certain heavy industry and manufacturing sectors.
"We all produce some BGN 80B, 40% of it goes for labor, 60% for the businesses," Dimitrov said, adding that it should be the opposite.
"Workers must learn how to negotiate their salaries. This can be done through legislation," he added.
KNSB insisted that the Labor Code must provide that 80% of the current monthly income per worker will be guaranteed by the basic salary and the rest will come from bonuses which will not exceed 20%.
The Labor Code should ensure 100% paying off of salaries even when the employer faces poor financial circumstances, the KNSB representative argued.
- » Bulgaria Advises Travellers to Carry Enough Cash During Greece's Bank Holiday
- » Westinghouse-led Group Wins EU Funding to Diversify Nuclear Fuel Supply to VVER Reactors
- » Bulgarians Completed More Trips Abroad in May
- » Greece's Banking Restrictions 'Not to Affect Bulgaria'
- » Bulgaria to Rely on Azerbaijan for Achieving Greater Energy Diversification – President
- » Deputy PM: Difficult to Predict Impact of Greek Developments on Bulgarian Economy