Bulgaria Anticipates Meeting Eurozone Inflation Criteria by September
Bulgaria is on track to meet the inflation benchmark required for Eurozone membership by September
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The minimum monthly wage (MMW) will be increased from BGN 420 to BGN 460 as of January 1, 2017 but there will be legislative amendments to the method via which MMW is calculated next year, stated Social Minister Zornitsa Rusinova.
Rusinova explained that the ratification of the important convention 131 of the International Labour Organization (ILO) is forthcoming. The convention guarantees balancing and predictability of growth of MMW.
In the convention, the method of negotiating MMW is based on economic instruments such as inflation, labour productivity, employment rate, GDP dynamics etc.
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Bulgaria is on track to meet the inflation benchmark required for Eurozone membership by September
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