Bulgaria's Average Wage to Reach EU Standards by 2009

Politics » BULGARIA IN EU | December 1, 2006, Friday // 00:00| Views: | Comments: 3
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Average wage in Bulgaria has to reach the minimum remuneration of Greece, Spain and Portugal by 2009, Economic and Social Council of Revenue Policy claimed.

According to experts minimum pension has to be bind to minimum wage for the country and the proportion must be at least 50 % between the two. Bulgarians' guaranteed minimum revenue must be set on at least 60% from the officially accepted poverty line.

Deputy head of the Confederation of Independent Trade Unions in Bulgaria (CITUB) Plamen Dimitrov announced two more goals the country has to achieve by January 1, 2007. One of them is protection of revenues from inflation and reducing gap between average wage in Bulgaria and the European ones.

In the past five years revenues of Bulgarian citizens are lagging behind in growth compared to economics, experts from the Council said. Nevertheless percentage of poverty declines with every year.
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» To the forumComments (3)
Seriosno - 5 Dec 2006 // 21:03:13

The "percentage of poverty declines with every year" cause the poor are either leaving or dying!

Dimitroff - 4 Dec 2006 // 08:12:40

Bulgarians must stop complaining about everything. That is the biggest problem, which is so deeply implemented in the minds of the majority of the nation that no matter what obstacle has been faced, people just say: "We cannot do that." I think that more important issue now in the country is how to increase wages relative to a low real inflation rate. For 2005, the inflation rate of the country was 5%, which is high. Such price instability might grow in 2007 and 2008 and as a result, the central bank needs a credible monetary policy targeting inflation. Keeping low inflation will help the government gain the ability to be more flexible with the wages and increase them in a higher rate.

furian - 3 Dec 2006 // 20:32:42

What is fiction and what is hash reality here ? 60% of the working population has an average income of 350-380 leva p.m.or less, and Bulgaria is ranked as the second poorest country in Europe. To achieve EU minimum standard income within 2 years is wishful thinking or pure fairytale considering the huge problems facing Bulgaria. Another stunt to calm down growing worries in EU? In that case not the first one.

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