Bulgaria Reports Lowest Hourly Labour Costs in EU for 2023: Eurostat
Eurostat's recent publication on Wednesday showed insights into hourly labour costs across the European Union (EU) in 2023, indicating a notable rise compared to the previous year
Bulgarian Social Policy and Labor Minister Hassan Ademov is proposing a mechanism whereby the minimum monthly wage will be updated each year.
The update will take into account inflation and will be bound by the amount of the average wage.
The minimum monthly wage, after taxes and insurance have been deducted, will not be allowed to fall below the amount of the specified poverty line, reported Friday the Bulgarian public radio, BNR.
The updated amount will become effective at the beginning of each year, and the government will determine monthly and hourly rates for the minimum wage.
The mechanism provides that the amount of the minimum wage should not be less than 35% of the average wage for the last quarter for which statistics are available, and should not exceed 55 % of it.
The monthly amount of the minimum wage will be multiplied by the consumer price index for the year, compared to the previous year.
The proposal will be submitted next week for consideration to the National Three-Way Council between the government, the trade unions and the business.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
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
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
In a bid to enhance its energy security and diversify its gas supply sources, Bulgargaz is gearing up for the first deliveries of liquefied gas through the Alexandroupolis terminal, set to commence in May
The path to Eurozone accession for Bulgaria may see a significant milestone in 2025, albeit not at the outset of the year, according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB)
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022