Germany Raises Minimum Wage to €12.82 and Mini-Job Salary Threshold as of January 1, 2025
From January 1, 2025, Germany has introduced two important updates that will benefit students and job seekers
In a recent update on the Labour and Social Policy Ministry's achievements from June to December 2023, Minister Ivanka Shalapatova revealed plans for a significant increase in the minimum monthly wage, set to rise to BGN 933, marking nearly a 20% increment from its current level. This move is anticipated to positively impact over 500,000 workers across the country.
Shalapatova emphasized the government's commitment to enhancing the income of workers and pensioners. She highlighted the introduction of a voucher scheme offering free digital skills training on December 21, aiming to enhance the labor market situation. Additionally, the Ministry intervened in wage arrears amounting to over BGN 6 million and addressed 2,000 cases of individuals working without employment contracts.
Moreover, the Minister outlined upcoming pension increases, stating that as of July 1, 2024, pensions granted until the end of 2023 would see an 11% surge. This measure is projected to elevate the average pension to BGN 833, a significant rise from the current figure.
Shalapatova also detailed the Ministry's initiatives concerning energy assistance and support for heating bills, benefitting hundreds of thousands of families. The Ministry has actively addressed challenges posed by natural disasters throughout the year while focusing on planning early childhood development policies.
Additionally, Shalapatova highlighted progress in moving children out of old-style care homes, expressing her commitment to this cause over the last 30 years.
Economists have urged Bulgaria’s leadership to submit an application to the European Commission and the European Central Bank for an extraordinary convergence report on joining the eurozone
Representatives of Bulgaria’s ruling coalition have once again highlighted a significant deficit in the state budget, with Stanislav Balabanov from "There Is Such a People" (TISP) stating that 2025 will be a transitional year regarding the eurozone
Valeri Belchev, former acting Minister of Finance, recently expressed strong concerns about Bulgaria's financial management, particularly focusing on the lack of proper budget management tools
Kalin Hristov, former deputy governor of the Bulgarian National Bank and former finance minister, expressed concern over the public discourse on key economic issues
A recent survey conducted by the "Myara" sociological agency reveals significant skepticism among Bulgarians regarding the adoption of the euro
Economist Nikola Yankov, a former deputy minister of economy in Bulgaria and currently leading the economic team of the "Blue Bulgaria" party, expressed on BNR concerns about the current political and economic direction in the country
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