Labour and Social Policy Minister Petkov to Propose 3.9% Increase of Minimum Contributory Incomes by Administrative Order
Bulgarian Labour and Social Policy Minister Bisser Petkov said at a meeting of the National Council for Tripartite Cooperation on Thursday that he will propose a 3.9% increase of minimum contributory incomes by administrative order.
Justifying his proposal, Petkov said that the average contributory income of persons who are insured on a minimum contributory income increased by 5.2% by mid-2017 compared to 2016. Half of this growth resulted from the increase of minimum contributory incomes.
Minimum contributory incomes are the minimum amount on which employers are obliged to pay social and health insurance contributions for their employees. In a number of sectors, the actual wages are far above these thresholds, but in some sectors the wages are lower.
BTA