03.01.2023

THE MINIMUM WAGE BECOMES BGN 780 FROM JANUARY 1, 2023

The minimum wage becomes BGN 780 from January 1, 2023, the government decided. Its size increased by 9.9% compared to its previous value, and the increase on an annual basis is 20%. This was announced by the Deputy Prime Minister and Minister of Labor and Social Policy Lazar Lazarov.

When determining the new amount of the minimum wage, the real parameters of the macroeconomic environment and the possibilities of the state budget were taken into account. "This will contribute to reducing poverty among working people and inequalities in the distribution of income," said Deputy Prime Minister Lazarov.

The growth of the minimum wage will increase the purchasing power and consumption of the lowest income groups of the labor market, increase the motivation of the workforce and reduce unfair competition. "This increase will also support those working in social services and personal assistants under the personal assistance mechanism, whose salaries are determined by a factor corresponding to the amount of the minimum wage," the minister emphasized.

With the adoption of the new amount of remuneration, conditions are created for the preparation of a mechanism for determining the minimum wage. "Its development will begin at the beginning of 2023, when, together with the social partners, we will also start work on the creation of prerequisites for the implementation of the Directive on Adequate Minimum Wages," explained Deputy Prime Minister Lazarov.