Bulgaria's Heavy Industry Can Afford 20% Pay Raise – Expert

Business | April 7, 2014, Monday // 16:19| Views: | Comments: 1
  • Send to Kindle
Bulgaria: Bulgaria's Heavy Industry Can Afford 20% Pay Raise – Expert Independent Trade Unions of Bulgaria president Plamen Dimitrov. Photo by BGNES.

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.

Business » Be a reporter: Write and send your article
Tags: Independent Trade Unions of Bulgaria, KNSB, Plamen Dimitrov, heavy industry, pay raise, salary increase
Expats.bg All Are Welcome! Join Now!
Please, log in to post a comment.
» To the forumComments (1)
Mat - 8 Apr 2014 // 00:59:38

Not a very independent expert though is he?

Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria