How much does the minimum wage raise in our country

15.08.2021

HOW MUCH DOES THE MINIMUM WAGE RAISE IN OUR COUNTRY

The minimum wage in Bulgaria has risen for the period from 2017 - 2021 by 41.3% - from BGN 460 in 2017 to 650 leva in 20121. The average is increasing for the same period by almost 50 per cent - from 1001 BGN in the beginning of 2017 to BGN 1462 in the first quarter of this. This is understood by the answer to the work minister of Labor and Social Policy Galab Donev to a Deputy Question.

According to the Minister, minimum wage growth reduces wage inequality and reduces workers' poverty. It mainly affects minimal remuneration, leading to a decline in the risk of poverty among the employees in the range of 16 to 64 years. Last year, this percentage decreased to 9.7 per cent at 11.4% in 2016.

Wages in private companies are lagging behind those in the public sector, it is clear from the data of the Social Ministry.

Because of the increase in salaries in the administration, education and healthcare in the public sector, the average salary for the first three months of this year reached 1569 leva, which was an increase of 17.2 per cent, while in the private lag to BGN 1426 or height with 8.8 per One hundred, the minister said.

In the post-2017 period, the average wage in Bulgaria increased sustainably by over 9% per annum.

In 2017, it was 1037 leva, with the increase compared to the previous year being 9.4 per cent. Over the next two years it increased by 10.5% on an annual basis.

In 2018, the following salary in Bulgaria was 1146 leva and in 2019 BGN 1267. In the public sector, it reaches 1294 leva or a growth of 11, 8 per cent and in the private - 1260 leva or an increase of 10.2 per cent.

It continues to increase in 2020, despite the pandemic caused by coronavirus, also show the data of the Social Ministry, and the average salary increased by 9.5 per cent to 1387 leva. The increase in the public sector is larger - by 11.4 per cent to 1441 leva, while in private growth is 8.7 per cent to 1369 leva.

In the first quarter of this year, the average remuneration raised by 11 per cent, reaching BGN 1462. Regardless of the high salary growths, Bulgaria remains the lowest income in the EU, Minister Donev said.