The Cabinet approved the bill on State and Public Insurance for 2002 on November 8. Pensions will be increased one more time on June 1, 2002 with a real increase of 6%. The minimum pension will be set at BGN 43, 60, while the maximum will equal four minimum pensions, BGN 186,40, Jordan Hristozkov, Director of the National Insurance Institute, explained. Compared to the previous year the average pension for 2002 will increase with BGN 10 and may reach BGN 103 in December 2002. Given the expected inflation rate next year, the pensions will actually increase by 5,9%. The draft budget for State and Public Insurance is coordinated with the State budget 2002 macro framework. A total of BGN 881 M are to be earmarked from the state budget for state and public insurance.

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