Bulgarian Business Wants Minimum Insurable Earnings Based on Regions

Bulgarian business representatives have proposed changes to the methods for setting the minimum amount of insurable earnings.

"The idea is to determine the minimum insurable earnings on the basis of more realistic economic models based on labor productivity," chairman of the board of the Bulgarian Industrial Capital Association (BICA) Vasil Velev said during a presentation on the informal economy in the country.

Businesses insist that insurable earnings can be set based on regions, too. Many Bulgarian employers claim that the minimum insurable earnings are an obstacle to the increase of wages, Econ.bg notes. Some 37.1% of employees in the financial and the insurance sector, as well as those in the construction and real estate share the same opinion.

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