Bulgarian Cabinet Approves Increase of Minimum Wage to BGN 420 in 2016

Business | December 23, 2015, Wednesday // 12:29| Views: | Comments: 0
Bulgaria: Bulgarian Cabinet Approves Increase of Minimum Wage to BGN 420 in 2016

At its regular meeting on Wednesday, the Bulgarian government approved the increase of the minimum working wage to BGN 420 starting from January 1 next year.

The increase is expected to motivate job seekers and to ensure that people receiving the minimum wage and their families are able to better satisfy their needs.

This is also expected to decrease the number of working poor and to generate more dynamic economic processes and stimulate domestic consumption.

The minimum hourly working wage becomes BGN 2.5 for 8-hour working day and 5-day working week.

The increase is featured in the government budget for next year and the medium-term budget forecast, which foresees another increase of the minimum wage to BGN 460 in 2017.

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