Bulgaria's 2015 Draft Budget Includes Minimum Wage Freeze

Bulgaria's 2015 Draft Budget Includes Minimum Wage Freeze

Keeping the minimum wage at its 2014 levels and slashing money for salaries in the administration by 10 percent are among the core points of next year's draft budget published on the Finance Ministry's website.
The latter move is related to a process of "optimization" that state structures are expected to undergo in 2014.
A decision to freeze the minimum wage comes despite calls from trade unions and Social Minister Ivaylo Kalfin to increase it by BGN 40 compared to this year.
Currently at 340 levs, the minimum wage is however projected to grow by 20 levs in 2016 and 20 levs more in 2017.
The budget also includes a budget deficit of three percent to GDP (down from this year's expected 3.7%) that is to gradually shrink to 2% in 2017. Income is estimated at 36.8% of the economy and expenditure at 39.8% for next year.
 
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