Forecast Predicts Salaries in Bulgaria to Increase by 4 % in 2016

According to a forecast of the advisory firm Korn Ferry, the salaries in Bulgaria will increase by 4 % next year.

With the inflation for 2016 forecasted at 0.1 %, the real increase of salaries in Bulgaria is expected to be 3.9 %.

In this respect, Bulgaria ranks third among the member states of the EU, being behind only Romania (with an expected real increase of 5.4 %) and Lithuania (5 %).

On European level, average salary is set to increase by 2.8 % and with inflation forecasted at 0.5 %, real wages are expected to rise by 2.3 %.

Average real wages in Eastern Europe will increase more than in Western Europe, while the highest rise in real salaries is expected in Asia.

On a global level, a real wage increase of 2.5 % is expected, which will be the highest in three years.

According to the forecast, pay increases will combine with historically low inflation rates to leave workers better off.

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