Bulgaria’s Caretaker Government offers the minimum Wage to become BGN 710

Business » FINANCE | December 1, 2021, Wednesday // 15:23
Bulgaria: Bulgaria’s Caretaker Government offers the minimum Wage to become BGN 710 Pixabay

We propose to introduce in the next budget an increase in the minimum wage and it will become BGN 710, said today in the Council of Ministers the Minister of Finance Valeri Belchev.

Over 750 thousand people in our country work on the minimum wage. They now receive BGN 650, which, according to Belchev, are extremely insufficient to support a household.

Every citizen with an income of up to BGN 510 will be entitled to child benefits, which will increase by 20 percent, Belchev said. According to him, this is a serious increase that will affect 20 thousand children in Bulgaria.

We are significantly increasing the maternity allowances for children up to two years of age, as they increase from BGN 380 to BGN 650, Belchev also announced.

With regard to pensions, we intend to propose, even after the abolition of covid measures, that the absolute value of income for retirees be at least maintained at current levels, he added.

This would mean an average increase in the pension of each pensioner by BGN 84, the minister informed. He also said that the government proposes to keep the supplement to the pensions of BGN 120 in the next six months.

I very much insist that the budget for 2022 be adopted within this year. Although some of the political forces prefer to slow down the process and leave the payment of the budget to a regular government, we are obliged to comply with the law and protect the country from risks, said the caretaker Minister of Finance Valeri Belchev.

Belchev announced that the basic scenario of the budget for next year has already been prepared. An interdepartmental procedure for calculating budget revenues and expenditures is underway this week, which will end on Friday, so on Monday next week we will start signing the State Budget Act for 2022, the minister informed.

He said the process would take about a week, and discussions with all municipalities and the fiscal council would begin next Monday. Concluding this process on 16 December as planned, we intend to invite the National Council for Tripartite Cooperation. On December 17, the formal document will be submitted to the Council of Ministers, Belchev announced.

We have not envisaged reforms in the structures, because these will be decisions of the parliament and the regular government. I think we provide a good base on which to work, said the Minister. According to him, it is very important for the political parties to unite around the fact that there should be a budget within this year, to make their talks and compromises and to accept the framework as it is. is possible, but it is important to secure the financial year.


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Tags: minimum wage, caretaker, BGN, budget

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