Bulgarian FinMin: Minimum Wage to Go Up May 1, 2012

Bulgaria's Finance Minister Simeon Djankov proposed the measure during Wednesday's meeting of the so-called Three-Way Council between the government, the trade unions, and the business. File photo by BGNES

Bulgaria's Finance Minister Simeon Djankov has proposed that the country's minimum wage be increased from BGN 270 (approximately EUR 139) to BGN 290 as of May 1 2012.

Djankov proposed the measure during Wednesday's meeting of the so-called Three-Way Council between the government, the trade unions, and the business, trade union members told reporters.

During last week's meeting of the Three-Way Council, a minimum wage increase starting April 1 was discussed.

During Wednesday's discussions, however, Djankov stated that May 1 was a more appropriate date since it was a "very nice holiday."

"We believe that March 1 is a very nice holiday, too," Dimitar Manolov, Vice President of one of the biggest trade unions in Bulgaria, Podkrepa, jokingly commented after the meeting. In Bulgaria, March 1 is associated with the ancient custom of wearing a Martenitsa, a red-and-white symbol of the arriving spring.

Labor Code amendments were also discussed on Wednesday's Three-Way Council meeting, including the liability of employers and employees whenever no labor contract is signed.

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