Nearly Half of Bulgaria’s Pensioners Receive Minimum Pensions
As of the end of September, Bulgaria had a total of 2,047,000 pensioners, with nearly 46% of them receiving the minimum pension
In a recent update on the Labour and Social Policy Ministry's achievements from June to December 2023, Minister Ivanka Shalapatova revealed plans for a significant increase in the minimum monthly wage, set to rise to BGN 933, marking nearly a 20% increment from its current level. This move is anticipated to positively impact over 500,000 workers across the country.
Shalapatova emphasized the government's commitment to enhancing the income of workers and pensioners. She highlighted the introduction of a voucher scheme offering free digital skills training on December 21, aiming to enhance the labor market situation. Additionally, the Ministry intervened in wage arrears amounting to over BGN 6 million and addressed 2,000 cases of individuals working without employment contracts.
Moreover, the Minister outlined upcoming pension increases, stating that as of July 1, 2024, pensions granted until the end of 2023 would see an 11% surge. This measure is projected to elevate the average pension to BGN 833, a significant rise from the current figure.
Shalapatova also detailed the Ministry's initiatives concerning energy assistance and support for heating bills, benefitting hundreds of thousands of families. The Ministry has actively addressed challenges posed by natural disasters throughout the year while focusing on planning early childhood development policies.
Additionally, Shalapatova highlighted progress in moving children out of old-style care homes, expressing her commitment to this cause over the last 30 years.
The Bulgarian Ministry of Finance has unveiled the draft budget for 2025, alongside the updated medium-term fiscal forecast covering 2025 to 2028
Thousands of Bulgarian consumers who invested in the British company BETL have reported that the company has stopped paying daily dividends and appears to have ceased its operations.
In recent weeks, there has been ongoing concern regarding the state's expenses for next year, with projections showing that costs far exceed available funds
The Bulgarian National Bank (BNB) has voiced strong opposition to a proposed 10% tax on banks' excess profits, citing concerns that it would destabilize the financial sector
Economist Rumen Galabinov has stated that Bulgaria's potential future membership in the Eurozone could significantly benefit the country's economy
The Gross Domestic Product (GDP) for Bulgaria in the third quarter of 2024 grew by 2.4% compared to the same period in 2023
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