Bulgarian Finance Minister Dampers Wage Increase Hopes

Bulgarian Finance Minister, Simeon Djankov, dismisses any talks about increasing salaries and pensions in 2011. Photo by BGNES

There are no funds in budget 2011 to increase minimum wages and/or minimum retirement pensions, Bulgarian Finance Minister, Simeon Djankov, declared.

In the beginning of the week, the Minister of Social Policy and Labor, Totyu Mladenov, hinted minimum wages and pensions might go up beginning July 1, 2011 – a move interpreted by many as part of the ruling Citizens for European Development of Bulgaria (GERB) party election campaign since budget 2011, indeed, does not foresee increase of salaries and pensions. (Local and presidential elections are to be held in the fall of 2011.)

Also during the week, the labor union, Confederation of Bulgarian Independent Syndicates, KNSB, issued a proposal to increase minimum monthly wages by BGN 50 to reach BGN 290 a month, again starting on July 1, 2011.

The Finance Minister has firmly dismissed both proposals.

On another subject, Djankov announced cabinet's plans to connect electronically grain producers with the National Revenue Agency similarly to gas stations, in order to improve accounting of revenues. There are such plans for pharmacies and wine makers as well.

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