Bulgaria To Raise Bottom Pensions as of July 1

Bulgaria To Raise Bottom Pensions as of July 1

Bulgaria will raise the minimum pensions in the country as of July 1, finance minister Simeon Dyankov said.

"Money is already present, so this year the minimum pensions will certainly increase," Dyankov said in an interview for the state-run Bulgarian National Television (BNT).

Bulgaria may further raise all pensions in the spring of 2013 if its economic growth exceeds the one projected in the state budget by at least 1% of the gross domestic product (GDP) or if the country succeeds to sell some of its assets.

The finance minister outlined two options for increasing all pensions in the country next year. The first one will employ the so called Swiss rule indexation which measures the inflation rate and domestic growth of productivity to determine the size of the increase. Also, the government is considering a second hike of pensions which will not involve indexing.

Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.