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The Portuguese minority government presented a proposal for the minimum wage to be increased by almost 6% to EUR 635 in the next year. However, the wage remain the lowest in Western Europe, according to Reuters.
Socialist Prime Minister Antonio Costa has pledged an increase of 25 percent to EUR 750 by 2023 at the start of his second term last month.
One in five workers in Portugal receives a minimum wage.
The Socialists have enjoyed strong economic growth and a reduction in the budget deficit over the last 4 years. They won the election on October 6 and increased their parliamentary presence, but they did not reach the majority.
Between 2015, when the Socialists took power, and 2019, the minimum wage increased by 14% from 505 to 600 euros, far below neighbouring Spain, where it was 1050 euros.
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The trend of rising prices for some basic foodstuffs, fruits, and vegetables continued this week, according to the State Commission for Commodity Exchanges and Markets
According to Eurostat data for July 2024, the lowest minimum wage within the EU is found in Bulgaria at 477 euros
Turkey's official statistics reveal that annual inflation surged to 75.45% in May 2024
At the end of May, the prices of most fruits and vegetables in Bulgaria saw a decline
During an open meeting, Ivan Ivanov, the chairman of the Commission for Energy and Water Regulation, revealed that the price of natural gas is set to increase by slightly over 8% in June
Starting from January 1, 2025, Bulgaria aims to raise its minimum wage to at least BGN 1,080 (EUR 552), a significant increase from the current BGN 933
The realm of online casinos is always changing, and one big new idea is the use of blockchain tech and Non-Fungible Tokens (NFTs).
Approximately 10% of individuals who previously qualified for home loans will no longer be eligible under new regulations set by the Bulgarian National Bank (BNB)
Recent changes to the Law on Payment Services and Payment Systems regarding the adoption of the euro have raised concerns among legal experts about potential contradictions with the already enacted Law on the Introduction of the Euro
In 2023, approximately 2,400 Bulgarians earned monthly incomes exceeding 50,000 leva (around 25,000 euros)
By the end of July 2024, Bulgarian banks reported a profit of 2.1 billion leva, marking an increase of 115 million leva compared to the same period in 2023
In Bulgaria, there has been a significant rise in the use of quick loans, a trend driven by several factors
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