Bulgaria's FinMin Firm on Not Hiking Minimum Wage

Business » FINANCE | March 29, 2011, Tuesday // 13:44| Views: | Comments: 0
Bulgaria: Bulgaria's FinMin Firm on Not Hiking Minimum Wage Bulgaria's Finance Minister, Simeon Djankov, (R) and Labor Minister, Totyu Mladenov, (L) are both firm on their opposite opinions on upping minimum monthly wages. Photo by BGNES

Bulgaria's Labor Minister Totyu Mladenov should find the money if he insist on increasing the minimum monthly wage, said Finance Minister Simeon Djankov.

"If he wants an increase of the minimum monthly wage, he should find the necessary money. The state budget does not have spare money for this," Djankov said on Tuesday, confirming once again his position on the proposal by Mladenov to up the minimum monthly wages by BGN 30 as of July 1, 2011.

The finance minister suggested that Mladenov could make cuts in his ministry in order to provide the necessary money.

"If he really thinks the minimum monthly wage should go up, he should make an administrative reform in his ministry, for example. In my opinion, this would be a good idea. If he has the money, we can then talk about the measure," Djankov said.

He expressed his irritation that the finance ministry is constantly asked to provide money from the state budget for different things.

"People constantly want the state budget to cover expenses, but they never think of where does the money come from. It is not something the finance ministry does," he said.

Djankov announced that people who have reached the retirement age will be released from their positions in the state administration.

In his words, at the Wednesday's meeting, the cabinet will agree on an ordinance for sending one-month notices to people who have reached the retirement age.

"Some of the ministries have apparently forgotten what the law states and we will remind them with an ordinance that a month before people turn the required retirement age, they should receive a one-month notice," Djankov said.

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Tags: Simeon Djankov, Totyu Mladenov, minimum wage, monthly wage, Finance Ministry, state budget, state administration, Retirement age
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