Bulgaria's Well-Intentioned Govt Wants to Up Salaries, Pensions in 2012

Finance | September 8, 2011, Thursday // 16:32|  views

Bulgaria's Labor MInister Mladenov says the Cabinet desires to up people's incomes. Photo by BGNES

Bulgaria's Cabinet "has the ambition" to increase all budget sector salaries and retirement pensions as of January 2012, according to Labor Minister Totyu Mladenov.

"We will most likely have the money for such an increase," Mladenov told reporters in the village of Rusokastro, Kameno Municipality, Burgas District, on Thursday, as cited by BTA.

The Labor Minister, however, failed to commit to precise forecasts about the timing and scale of such income increases, saying that more precise data will be available once the framework of the 2012 State Budget is decided by the government.

In spite of Mladenov's promises about salary and pension hikes made earlier in 2011, as of September 1, 2011, the Borisov Cabinet increased only the minimum monthly wage – from BGN 240 to BGN 270, and the widows' retirement allowances – by 25%.

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Tags: Totyu Mladenov, Labor Minister, salaries, pensions, retirement pensions, minimum wage, minimum wages, minimum salary


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