The blueprint for Bulgaria's state budget for 2013 will be ready within a week, announced Bulgarian Minister of Finance Simeon Djankov.

In particular, Djankov explained that the planned raise of retirement pensions will be tailored to compensate inflation accumulated since pensions were last raised in July 2009.

Data from Bulgaria's National Statistical Institute show that inflation July 2009 - August 2012 amounts to 10.8%.

"This will require an enormous financial resource, but we are completely ready to mobilize it to protect the most vulnerable," said Djankov.

He added that the raise will become effective on January 1, 2013, and that it is a part of a larger bid by the center-right GERB cabinet to raise the incomes of citizens paid by the state budget.

Bulgaria will hold general elections in the summer of 2013 and the announcement of salaries and pensions raises is viewed by analysts and adversaries as part of GERB's bid to secure a representation in the upcoming Parliament sufficient for it to form a new cabinet.

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