Bulgaria’s Bottom Monthly Wage To Reach 159 Euro Next Yr

Bulgaria’s Bottom Monthly Wage To Reach 159 Euro Next Yr

Labour minister Totyu Mladenov said that the bottom monthly salary in the country will increase to 310 levs ($199.2/158.5 euro) next year.

Pensions will increase by at least 7.6% as of January, Mladenov said in an interview for the state-run Bulgarian National Radio on Monday.

The bottom insurable threshold too will be revised upward.

According to Mladenov, the introduction of a new appraisal system for public servants next year will entail higher incomes in the budget-sponsored sphere.

Mladenov recalled that the existing cap on pensions will be scrapped as of January 1, 2014, as this is expected to encourage people to pay social security contributions based on their real incomes.

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