Bulgarian FinMin: No Pensions, Wages Increase July 1

Bulgarian FinMin: No Pensions, Wages Increase July 1

Bulgarian Minister of Finance Simeon Djankov has thrown into further confusion the public perception of the cabinet's plans, in saying Saturday that a planned increase in retirement pensions and minimum wages is not in order for July 1.

Earlier Saturday Minister of Social Affairs Totyu Mladenov had confirmed the July 1 date, saying that the increase comes as a logical step in a policy pursued by the government, in view of the increased productivity of the Bulgarian workforce.

"Since the topic is continually popping up, including on the part of Minister Mladenov, I can say that this will not happen from July 1; further negotiations with employers and trade unions are needed," said Djankov during a visit to eastern town of Karnobat.

"We have still not decided. This is only rumors thrown about just to keep the topic alive," quipped the FinMin.

He clarified that he is ready to agree to the increase once the situation is favorable and the financial parameters of the state budget allow it. (Source: Sofia News Agency)

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