Assen Vassilev: Minimum salary to rise to EUR 363 from April 1

Assen Vassilev: Minimum salary to rise to EUR 363 from April 1

In 2022, Bulgaria is expected to receive the first tranche under the Recovery and Resilience Plan to the tune of to EUR 1.6 billon, this country’s Deputy Premier and Minister of Finance Assen Vassilev said in an interview for the BNR.

In his words, the negotiations with the European Commission under the plan are not easy, but Bulgaria expects to get an approval in the beginning of April. According to the 2022 draft state budget, the minimum monthly salary will increase to EUR 363 as of April 1.

“I don’t have to apologize for telling the truth”, Assen Vassilev said. Earlier, Bulgarian employers demanded an excuse from Minister Vassilev for calling some of them incompetent. “Labor productivity in Bulgaria amounts to just under 50% of the EU average, while wages amount to 26% of the EU average. In other words, labor productivity significantly outpaces wages”, Minister Vassilev said.

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