Rising Debt Among Young Bulgarians: A Concern for Financial Literacy
The number of young people up to the age of 25 who are heavily in debt is on the rise in Bulgaria
According to Eurostat data from July 1, 2024, Bulgaria has the lowest minimum wage in the European Union, standing at 477 euros per month. This places Bulgaria at the bottom of the EU rankings, with Hungary, Latvia, and Romania following, where minimum wages are up to 750 euros per month.
In contrast, Luxembourg boasts the highest minimum wage in the EU, set at 2,571 euros per month gross. The minimum gross salary in Bulgaria was slightly over 125 euros per month in 2014. Since then, Bulgaria has experienced an average annual increase of around 11% in its minimum wage.
In response to ongoing concerns about wage disparities, the Bulgarian government has proposed raising the minimum wage to 1,077 leva (approximately 550 euros) starting next year. This proposal is currently under public discussion and is open for feedback until September 26.
In addition to these figures, it is notable that minimum wage levels across the EU vary significantly, reflecting differences in living costs and economic conditions among member states. The proposed increase in Bulgaria's minimum wage aims to address some of the economic challenges faced by low-income workers and reduce the wage gap within the EU.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Overnight and into tomorrow, widespread precipitation is expected, with more intense thunderstorms in Western and Central Bulgaria
Bulgarian researchers from the "Plant Cell Biotechnology" department at the Center for Plant System Biology and Biotechnology
In Bulgaria, accidents involving electric scooters are becoming more frequent, with many drivers disregarding traffic rules, leading to increased enforcement by authorities
Friday's weather in Bulgaria will feature a mix of conditions, starting with a sunny morning in Central and Eastern regions, while Western Bulgaria will experience cloudier skies
The delivery of two new medical helicopters to Bulgaria has been delayed until early next year
A young man tragically lost his life after colliding with a pole while riding a scooter in Sofia
Bulgaria Ranks Second in the Balkans at Paris 2024 Olympics, 26th Overall
Bulgaria Leads Europe in Heat-Related Deaths in Record-Breaking 2023