Send to Kindle
Bulgaria's Social Minister, Totyu Mladenov, says minimum wages and pensions in Bulgaria might go up after all over more optimistic economic forecasts. Photo by BGNES
The cabinet will begin in March negotiations with the labor unions and the employers for possible increase of the minimum wages and retirement pensions in Bulgaria.
The surprising news was announced Tuesday by the Social Minister, Totyu Mladenov, who pointed out the government plans for 2011 to reduce the insurance system deficit by BGN 600 M.
The Minister declined committing to an exact amount of the increase on the grounds precise calculations were needed in times of strong fiscal discipline.
"Compared to last year, when Finance Minister, Simeon Djankov, was skeptical about increasing wages, his forecast for 2011 is much more optimistic," Mladenov said.
The 2011 budget, however, does not include funds for wages and pensions.
The Minister further explained that from the EU "Human Resources" Operational Program, BGN 400 M were slated for 2011 to assist the labor market while the Bank for Development would offer loans in the amount of EUR 25 000 to people who want to open a small business.
Mladenov expects to receive by the end of January a report of the Main Labor Inspectorate listing companies which fail to pay their workers regularly.
74 companies owe about BGN 19 M. Those who fail to pay will be prosecuted, the Minister warned.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
In a recent revelation, the National Statistical Institute disclosed that the average monthly pension disbursed in Bulgaria for January 2023 hovers around EUR 383
In a comprehensive survey conducted by the Trend Research Centre between December 1 and 7, 2023, shedding light on the financial dynamics of Bulgarians, an astonishing 84% of respondents acknowledged relying exclusively on income derived from employment a
After July 1, pensions will increase by 12%, Minister of Labor and Social Affairs Ivanka Shalapatova told bTV
The additional amount to pensions of BGN 70 (EUR 35), with which to provide Easter supplements for Bulgarian pensioners, will begin today
The difference in average salaries between men and women in Bulgaria in December 2022 is 15.5 percent
As of today - February 1 - the payment of the one-time BGN 75 to the vaccinated pensioners will begin, the National Social Security Institute announced.
As the May holidays mark the onset of sea tourism, Bulgarians and foreigners preparing for their annual getaways are facing a stark reality: trips this year will come with a heftier price tag
Sofia, the vibrant capital of Bulgaria, is experiencing a surge in its economic landscape, surpassing the average European standard of living, according to senior researcher Peter Ganev from the Institute for Market Economics
Mounting uncertainty looms over Bulgaria's anticipated entry into the Eurozone, with officials cautioning that the prospect may be delayed amidst persisting inflation challenges
In an unexpected turn, Bulgaria and Turkey have been notably absent from the list of the ten cheapest European summer destinations for British tourists
According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
