Minimum Wage in Bulgaria Increases
Thursday, 22 December 2016
As of 1st of January, the size of the minimum monthly salary in Bulgaria will go up to 460 levs, the government’s press office said on 21st of December. The increase, which is by 9.5% compared to the size from 2016 would motivate those who are seeking jobs and will ensure better living standards for those employed at the minimum wage. The change is expected to reduce the risk of poverty among the working people.
The minimum rate of payments per hour will be 2.77 levs as of 1st of January.
By another decree, the government determined the size of the poverty line for the country for 2017. it will be 314 levs, which is by 14 levs more than in 2016.
The poverty line is determined on the basis of a methodology approved by the Council of Ministers. The indicator is calculated based on the data in the „Household Budget Survey“, which is carried out annually by the National Statistics Institute.
The poverty line is used as a parameter in the formation of the social policy in the area of incomes and living standards.