Bulgarian Minimum Wage Up By BGN 16 Starting July

Politics » DOMESTIC | June 2, 2015, Tuesday // 09:58| Views: | Comments: 0
Bulgaria: Bulgarian Minimum Wage Up By BGN 16 Starting July Photo: BGNES

The minimum wage in Bulgaria will increase by BGN 16 starting July 1 and will thus slightly surpass the country's estimated poverty line.

Upon all taxes and insurances are paid, the current minimum wage reaches BGN 282. Starting July 1, the amount will increase to BGN 298, as stated in the report presented by Labor Minister Ivaylo Kalfin.

The Minister stated that the periodic increase in the minimum wage guarantees the preservation and moderate increase of purchasing power. He further noted that the increase is not a big burden on employers. Kalfin said that this is the best way of fighting ''grey economy''.

Meanwhile, the Higher Administrative Court revoked the government proposal on the increase of the minimum wage on May 19. The reason for the decision was the fact that the project was not discussed with the Association of Industrial Capital, the Bulgarian Chamber of Commerce and Industry and the Bulgarian Industrial Association.

The government is now set on overturning the court's decision so that the legislative amendment can take effect.

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Tags: Bulgaria, minimum wage, Ivaylo Kalfin, increase, Association of Industrial Capital, Bulgarian Chamber of Commerce and Industry, Bulgarian Industrial Association
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