Simeon Djankov: Next 3-4 Months Will Be Hard for Bulgaria
"Three or four difficult months are in store for the Bulgarian economy.
Bulgaria’s workers will no longer be paid for the 3rd day of their sick leave, according to the amendment in the Social Insurance Code, to be approved by the cabinet on Wednesday..
The information was reported by Bulgarian media Tuesday, citing sources, speaking off the record.
Over the lack of consensus about the move, which is the last of the 60 anti-crisis measures, Finance Minister, Simeon Djankov, stated the cabinet will use its right to unilaterally add the measure to the package.
The measure provides for the first day of an employee sick leave to be paid 100% by the employer, the second will be paid at 60%, while from the 4th day on, the payment will be covered by the National Health Insurance Fund (NZOK).
The measure is to last only until the end of 2010, and is motivated with the increase of the sick leave expenses by BGN 160 000 in the first quarter of 2010 compared to the same period in 2009.
The 100%-60%-0%-NZOK version, chosen by the Council of Ministers, is one of several that had been discussed with the Labor Unions and the employers – 80%-80%-0%-NZOK; 0%-80%-80%-NZOK, and 50%-50%-50%-NZOK, among them.
Another proposal is to use all accumulated leave until the end of 2010 and only 10 days of the leave to be transferred to the next year if needed.
Prime Minister, Boyko Borisov, already said the GERB cabinet is not going to compromise with the use of the accumulated leave and extend the deadline as the Labor Unions demand.
The Unions, on their part, already announced they are to stage mass rallies, alarm the international community and ask the President to veto the measures if they are approved by the government.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
In the initial quarter of 2024, Bulgaria's economy expanded by 0.4%, as per an expedited evaluation by the National Statistical Institute (NSI), a slight deceleration from the 0.5% growth witnessed in the final quarter of the preceding year
Bulgaria ranks among the top three countries in Europe in terms of financial support for sheep farming, yet the sector struggles due to outdated farming practices
According to Levon Hampartzoumian, the likelihood of Bulgaria joining the Eurozone in 2025 is very slim, as no country has ever entered during the middle of the year
French President Emmanuel Macron has designated Varna as one of his favored travel destination
"Wizz Air" has unveiled a fresh route from Varna to London Gatwick Airport, marking an expansion in its flight offerings
"Toplofikatsia Sofia," the capital's heating supply company, has proposed a significant reduction in the price of thermal energy starting from July 1st
Sofia Airport's Terminal 3 Construction Set to Begin in Early 2026
COVID-19 Impact: Bulgaria's Grim Milestone as Highest Death Rate in EU