09.06.2022
STUDY FOR NEW 5 BRIDGES ON THE DANUBE
Bulgaria and Romania are launching simultaneous feasibility studies at five locations on both sides of the Danube to build new bridges. For the Romanian side, dredging the Danube is a priority. The Bulgarian side will respond adequately to this, as on June 20 the Executive Agency for Maintenance and Research of the Danube River will start dredging the river with its own funds, and within a week a public tender for dredging activities will be announced.
This was stated by the Minister of Transport and Communications Nikolay Sabev in Bucharest to the joint Bulgarian-Romanian working group on connectivity, which is under the patronage of the two prime ministers. On the Romanian side, the working group is led by Sorin Grindianu, Deputy Prime Minister and Minister of Transport and Infrastructure. The Bulgarian delegation was accompanied by the Ambassador Extraordinary and Plenipotentiary of the Republic of Bulgaria to Bucharest HE Radko Vlaykov.
Minister Sabev stated that funding has been provided for the deepening of the Danube in the amount of BGN 15 million. "The documentation has been prepared and has already been sent to the Public Procurement Agency for preliminary control, and the funds have been distributed for a 3-year period," he explained.
Regarding the joint Fast Danube project, Sabev and Grindianu agreed by the end of 2022 on a joint working group to prepare a joint project for financing by the EC of the planned engineering measures on the river.
Minister Sabev informed his Romanian counterpart that Bulgaria is fully prepared for the launch of the ferry connection Ruse - Giurgiu and proposed a joint border control in Ruse, while in Giurgiu the necessary conditions are created for this. Deputy Prime Minister Grindianu has pledged to help local authorities speed up action in Giurgiu.
The Bulgarian side plans to start repairing its part of the Danube Bridge 1 in July, which from the point of view of the Romanian delegation could create serious problems for the tourist and trade flows. The issue will be discussed so that repair time can be planned so that traffic between the two countries is hampered to a minimum.
09.06.2022
THE EU IS PREPARING COMMON RULES FOR SETTING THE MINIMUM WAGE
The European Parliament and the Council of the EU have agreed on European rules to set a minimum wage, as set out in national legislation or collective agreements. The new legislation will apply to all EU workers who have a contract of employment.
Member States will need to assess whether their minimum wages can currently ensure a decent standard of living, taking into account socio-economic conditions, purchasing power or levels of long-term national productivity or development.
To this end, they could create a consumer basket of goods and services at real prices, as well as apply internationally used values such as 60 percent of gross average wages. Member States in which less than 80 per cent of the workforce is protected by collective bargaining will need to draw up an action plan so as to gradually increase this percentage.
In order to develop the best strategy, they will need to involve the social partners and inform the Commission of the measures taken, as well as make their plan public. States will also be required to put in place a system that includes reliable surveillance, controls and on-site inspections to ensure compatibility and tackle abuses such as over-negotiation, bogus self-employment, unmarked overtime or increased work intensity. National authorities will have to ensure that workers' rights are restored in the event of their violation.
In order to enter into force, the agreement must be approved by the European Parliament's Committee on Employment and Social Affairs and then voted on in plenary. The Council must also approve it.
09.06.2022
ROMANIA DOES NOT MEET THE CRITERIA FOR THE EURO AT ALL
Romania does not meet four of the criteria needed to adopt the euro, and is the only one of the seven countries assessed to be subject to an excessive deficit procedure, the Adevarul newspaper reported, citing the European Commission's Convergence Report. The report assesses the progress of Bulgaria, the Czech Republic, Croatia, Hungary, Poland, Romania and Sweden on their path to the eurozone.
According to the report's conclusions, only Croatia and Sweden meet the criterion on price stability; all countries meet the public finance criterion, with the exception of Romania, which is the only country facing an excessive deficit procedure; Bulgaria and Croatia meet the exchange rate criterion; Bulgaria, the Czech Republic, Croatia and Sweden meet the long-term interest rate criterion. The European Commission has concluded that Croatia meets all the convergence criteria and is ready to adopt the euro on 1 January 2023.
Romania has not yet officially announced a deadline for joining the eurozone, local media reported. Even before the war in Ukraine began, Finance Minister Adrian Kachu said 2029 was a real goal for joining the euro. The previous deadlines officially adopted by the government were 2024 and 2019. Romania's likely future prime minister in May 2023, Marcel Colacu, who now heads the Chamber of Deputies, recently said the country's priority is Schengen and OECD membership.
To give up the leu, Romania must have a budget deficit of up to 3 percent of GDP, government debt must be up to 60 percent of GDP, and inflation must not exceed by 1.5 percentage points the average inflation of the three eurozone members with the highest -good results.
According to the EC's spring economic forecasts, Romania will have economic growth of 2.6% in 2022 and 3.6% in 2023. The budget deficit is expected to reach 7.5% of GDP this year and 6.3% in 2023 Government debt is projected to be 50.9% of GDP in 2022 and 52.6% in 2023, according to the forecast.
In the Convergence Program 2022-2025, which was sent to the EC, the government of Prime Minister Nicolae Chuca was content to write only that "Romania maintains its commitment to join the eurozone, but the government's efforts are currently focused on preventing the economic and social crisis following the Covid-19 pandemic and reducing the negative effects of the military conflict in Ukraine."
The last commitment to join the eurozone was made (but only orally) early last year by then-Prime Minister Florin Katsu, who said in February 2021 that Romania could adopt the euro in 2027 or 2028.
09.06.2022
WHEN YOU CAN FIND A JOB THE FASTEST
Observations of the labor market over the past 3 years show that in the period May-June there are the most job opportunities. This is largely due to the active demand for staff in the hotel and restaurant sector, and this year the growth of ads is observed in other sectors, according to an analysis of the JobTiger platform. The only exception is the Health and Pharmacy sector, which has a slight drop in job advertisements of 0.2%.
The largest growth in proposals in May was in the sectors "Marketing and advertising" (19%), "Logistics and transport" (17%) and "Administrative and service activities" (15%).
They are followed by the sectors "Accounting, Auditing, Finance" (11.9%), "Construction" (11.6%), "Production" (11.6%), "Trade and Sales" (11%) and "IT”(2.1%).
The double-digit growth of proposals in the hotel and restaurant sector, which has been observed since the beginning of the year, seems to be reaching its peak and at the end of May the number of ads in this sector was just over 11,500 and increased by 2%.
Share distribution
The Trade and Sales sector managed to maintain its leading position in the share distribution and in May the number of proposals from it was 22%. The second position is also maintained by the hotel and restaurant industry with 20%, followed by the manufacturing sector with 14%, displacing the IT sector with a very small difference from the third place (13.6%).
The share distribution in the other sectors is: "Administrative and service activities" (9.7%), "Logistics and transport" (9%), "Accounting, audit, finance" (4.5%), "Construction" (4%), Marketing and Advertising (3.2%), Health and Pharmacy (3.1%), Art (1%).
Work from home
The offers for work from home and / or remote work at the end of May are a little over 6150 or 13.4% of the total number of ads. Compared to the previous month of March, the number of these types of proposals increased by 4%, and their ratio by sectors is as follows: "IT" (55%), followed by "Administrative and service activities" (16%), outsourcing sectors industry (16%) and trade and sales (5%).
Ads with a requirement to have a green certificate
Although in the last 2 months the number of proposals requiring a green certificate (certifying a completed cycle of vaccination against COVID-19 or its disease) has decreased significantly, there are still ads with such a requirement. At the end of May, their number was only 50.
Supply by cities
In May 2022, the total number of ads in the leading regional cities increased by 10%. The change by cities is as follows: Sofia (10%), Plovdiv (12%), Varna (5%), Burgas (5%), Ruse (19%) and Stara Zagora (10%).
As in the previous month, as a share distribution, the proposals in the leading regional cities occupy 72% of all announcements. The distribution in each of these cities is as follows: Sofia (44%), Plovdiv (10%), Varna (10%), Burgas (4%), Ruse (3%) and Stara Zagora (2%).
Ads suitable for refugees
According to the analysis of the HR company and career site JobTiger, the number of job vacancies for refugees in April was over 3200. The number of these offers increased by 22% compared to April and as a share they are 8% of the total number of ads in the country.
03.06.2022
HOW TO GET RID OF BAD DEBT?
Unnecessary debt - the most common mistake of young people
The reasons we are indebted to us are usually the result of costly life events, such as major home repairs, buying a car, having children, needing treatment. Others, however, involve ill-considered costs for things that are not essential.
Such "whims" provide us with a higher standard of living than we can afford, at least for a while. Poor financial management or late payment are also common mistakes that lead to debt drowning. Thus, many young people fall into unnecessary debt, which haunts them for years.
Any high interest rate loan is bad debt. This may include quick payday loans or unsecured personal loans. High interest rates can be difficult to repay by the borrower, which often puts him in a worse financial position. Borrowing from acquaintances can also impose even more serious obligations on you if you have promised too short a period to repay the money.
How to avoid unnecessary debt?
Stick to a budget
You need to start tracking your income and expenses. Determine what you can afford based on what you earn. You need to make a budget plan every month, anticipating unexpected expenses ("miscellaneous"), because they will certainly come, and when you are not prepared, you may be tempted to take out a loan to cover these costs. Record each expense (even optional) in the appropriate category and make sure you distinguish between recurring and one-off expenses.
Save in an emergency fund
Spending a little money each month will be useful when you face unplanned expenses. The emergency fund will save you from indebtedness when you have to incur certain expenses, for example, when there is a need for unexpected car repairs, replacement of household appliances or a health problem. Maintaining an emergency fund can save you a lot of headaches and prepare you for unexpected events in the future. It is important that you do not abuse these savings and use them really accidentally.
Live to the best of your ability
Try to pay in cash whenever possible. If you can't afford to buy something without using your credit card, it means you don't have enough money to buy it. In this case, it is better to refrain from buying than to pay with "future" money. This is one of the most dangerous traps for credit card holders - to live with the illusion that they can afford a life that is really beyond their means.
Avoid certain purchases
Don't make impulsive purchases, especially when it comes to large sums. Apply the 24-hour rule to consider whether you really need the purchase. Always compare the prices of the product in different stores (online) and if you do not find a good price, wait for a discount/sale. Another option is to buy a similar product at a cheaper brand. Also, avoid "buy now, pay later" offers, interest-free financing and other similar schemes that will cost you too much.
Maintain your employment
In these uncertain times, good work is not always a given. Ideally, you should be competitive and able to pursue a variety of lucrative occupations. This will avoid the financial blow of rising inflation and ensure a secure source of income. Everyone can maximize their potential by developing and improving their skills, and by creating useful work contacts that open new doors. Keep up with new trends in your field to get a fair pay for your work.
How to get rid of bad debt?
Pay on time every month
Paying off all your loans on time each month is one of the best things you can do for your loan. Take all the necessary steps to make sure you don't miss a payment. You can set up automatic payments or payment reminders through your bank. If you find that you have difficulty "juggling" all your loans and maintaining payments, a pooling loan or debt management plan may be helpful.
Choose the most appropriate strategy
If you have the opportunity to allocate additional funds, direct more money to the debt with the highest interest rates. Of course, you must continue to make the minimum payments on each account. In the long run, this will reduce the total amount of interest you pay. Another approach is to try to pay off the smallest loan first, because you will be able to handle it the fastest. This will reduce the total number of loans, which can provide you with inner peace and more motivation to eliminate your other debts.
Refinancing or renegotiation?
Usually, the refinancing of a loan is done in order to change the terms of the loan and reduce the cost of repaying it. Refinancing can be done both in the bank from which the loan was withdrawn and from another financial institution. In most cases, however, refinancing has a better and more cost-effective alternative - to achieve the required terms of the loan by renegotiating the parameters of this loan with the help of an additional agreement to the contract.
Limit desires and focus on needs
There is always a way to limit some unnecessary expenses in your personal budget. Needs are usually your basic living expenses, things related to your health, or expenses that are necessary to do your job, raise your children and support your family. Desires are things you choose to buy to pamper yourself and live more comfortably, but they are not essential. For a while, give up restaurants, shopping, unnecessary subscriptions, expensive hobbies. By putting needs ahead of desires, you will be able to save faster and more efficiently to clear your debts.
Increase your income
If you are happy with your current job and your boss is happy with you, now is the time to ask for a raise or salary increase. If you do not work full time, start a second job, even short-term, to cover at least a few installments. Look for ways in which your interests could earn you extra money. Think about all the skills you have (such as writing, translation, web design, programming, beauty services) that you can offer in the job market. Sell all old clothes and junk online, rent a room at Airbnb, think "out of the box".
With enough creativity and perseverance, you will find the best way for you to save yourself from bad debt. But, of course, it is best not to fall into it at all, so plan your budget and spend wisely.
03.06.2022
ABOUT 11,000 UNEMPLOYED AND WORKING PEOPLE WILL IMPROVE THEIR SKILLS WITH FUNDS FROM THE STATE BUDGET
Nearly 11,000 unemployed and working people can acquire a new profession or new key competencies by joining free trainings. They are organized by the Employment Agency and are financed from the state budget within the National Action Plan for Employment for 2022. Trainings for acquiring professional qualifications and key competencies of the unemployed will be held throughout the country - in over 110 settlements places.
Over 450 unemployed people from unequal groups on the labor market will be able to undergo training for a new professional qualification in the 4 branches of the State Enterprise "Bulgarian-German Center for Vocational Training" (SE BGCPO) in Pleven, Pazardzhik, Smolyan and Stara Zagora of the Ministry of Labor and Social Policy. Courses will also be held at the Center for Human Resources Development and Regional Initiatives.
In the summer, the branch of BGCPO in Pazardzhik will host courses for acquiring the professional qualification of cashier, office manager, organizer of Internet applications, computer schedule, office secretary, programmer, electrician, assistant educator.
The company's office in Stara Zagora offers summer courses for assistant educator, cook, installer of plumbing networks, computer schedule, transport technician, organizer of Internet applications, computer operator, welder, tax and customs broker, welder.
In the period June-August in Smolyan will be held trainings for manicurist-pedicurist, welder, construction technician, baker-confectioner, tax and customs intermediary, programmer, operational accountant, graphic designer, translator from and into Bulgarian sign language, beautician, internet organizer applications.
The summer trainings of the branch of BGCPO in Pleven will be in the professions of computer operator, welder, plumber, builder, graphic designer, hairdresser, cook, electrician.
The state-owned enterprise "Bulgarian-German Center for Vocational Training" provides accommodation for each student in a dormitory. The unemployed receive BGN 10 per day for each day of training, as well as funds for travel expenses.
All schedules for the trainings can be seen here: https://www.az.government.bg/pages/grafici-za-obuchenia/.
Additional information and consultation can be obtained on the spot - in any directorate "Labor Office" in the country.
03.06.2022
THE AGENCY FOR PEOPLE WITH DISABILITIES FINANCES UP TO BGN 80,000 PROJECTS FOR EMPLOYMENT OF PEOPLE WITH DISABILITIES
The Agency for People with Disabilities announces a new competition for funding projects to stimulate the employment of people with permanent disabilities in a specialized work environment. The maximum subsidy for each approved proposal is BGN 80,000. Specialized enterprises and cooperatives of people with disabilities can participate in the competition.
The subsidy is granted for the creation and equipment of new jobs, as well as for financing activities to increase the competitiveness of employers by building new production lines.
The deadline for submitting project proposals is July 4. The documents can be sent electronically to ahu_stn@mlsp.government.bg, in the office of the Agency for People with Disabilities or through a postal operator. The tender documentation can be found at https://ahu.mlsp.government.bg/portal/page/84/.
In 2021, the program held two competitions for financing business-oriented projects, in which 33 specialized enterprises and cooperatives of people with disabilities participated. A total of 18 projects with a total value of over BGN 1 million were approved for funding, which created 35 new jobs for people with permanent disabilities.
03.06.2022
THE GOVERNMENT HAS SET MORE AMBITIOUS TARGETS FOR EMPLOYMENT AND POVERTY REDUCTION BY 2030
The Government adopted amendments to the Employment Strategy of the Republic of Bulgaria 2021-2030 and the National Strategy for Poverty Reduction and Promotion of Social Inclusion 2030. The update of both strategies is in line with the adopted more ambitious national goals in the field of employment and reduction of poverty and social exclusion.
The new goal in the Employment Strategy envisages an increase in the employment rate for the population aged 20-64 to 79% by 2030. Amendments to the National Strategy for Poverty Reduction and Promotion of Social Inclusion envisage the number of people by 2030 at risk of poverty or social exclusion to decrease by 787,000 people.
The updating of the national targets in both strategies is in line with the European Union's priorities in the field of employment and social inclusion. The national goals are related to increasing employment, reducing poverty and inequality, as well as improving the quality of life of people from vulnerable groups.
03.06.2022
THE NATIONAL PROGRAM FOR YOUTH EMPLOYMENT IN THE FIELD OF CULTURE HAS BEEN APPROVED
About 200 unemployed young people under the age of 29 with secondary and higher education in the field of art will be able to start working in cultural institutes. This is provided by the National Program for Ensuring Youth Employment in the Field of Culture, which was approved by the Minister of Labor and Social Policy Georgi Gyokov after its coordination in the National Council for Employment Promotion.
The program is part of the National Action Plan for Employment in 2022. Its budget is BGN 1.2 million. The Ministry of Labor and Social Policy will subsidize the employment of young people for a period of 6 months full-time, providing employers funds to pay their wages and social security contributions.
The main goal of the program is to provide opportunities for work experience in the specialty of young people who have completed secondary education with a professional qualification in the professional fields of "Fine Arts", "Music and Performing Arts", "Design" and "Applied Arts and Crafts". Through it, young people with a specialty in higher education "Arts" or professional field "Theory of Arts", "Fine Arts", "Music and Dance" or "Theater and Film Arts" will be able to start working.
The implementation of the program will ensure the transition from unemployment to employment for young people who have graduated in art. At the same time, the process of preservation and development of cultural values will be supported and the opportunity will be provided for unemployed young people to gain professional experience.
The text of the program is published at the following link: https://mlsp.government.bg/programi-i-proekti-za-zaetost.
03.06.2022
REMOTE AND HYBRID JOBS ATTRACT 7 TIMES MORE CANDIDATES
Even now, as pandemic restrictions ease and more people return to the office, flexible and remote jobs are becoming more popular than ever, CNBC Make It reports.
A new study by CareerBuilder found that jobs that allow employees to work from home full-time or part-time received seven times more applications last month than attendance positions. The jobs cover industries and levels of experience: the tax manager, the Spanish teacher and the therapist were among the most popular positions, informs infostock.bg.
"People are not going back to work the way they were in the past," said Christine Kelly, chief marketing officer of CareerBuilder. "Flexibility is the new norm and the expectations of employees - we will see this trend continue in the coming months."
What are the factors that determine this jump in the number of flexible job applications and how companies should react?
People do not want to return to the office full time
As coronavirus cases continue to decline dramatically in the United States, several companies, including the TIAA, American Express and Twitter, announced changed dates for returning to the office in March.
However, most Americans working from home would continue to do so if given the opportunity. According to a Pew Research survey of 5,889 workers in January, 61% of people who work remotely say they don't go to the office because they don't want to, citing a better work-life balance and productivity.
Some people would rather leave than travel to work again: a recent Morning Consult survey of 400 workers found that nearly 50% of people would consider leaving work if their employer asked them to come to the office before feel safe.
So it is no coincidence that we are seeing a jump in the number of applications for remote and flexible work at the same time as more companies are returning to the office.
"After two years of working from home, employers want to leave Covid-19 behind," says Kelly. "But that doesn't mean employees want to go back to work full-time."
Flexible work can lead to better career opportunities
The continuing search for remote and hybrid jobs also comes from workers in the service sector, who are refusing to look for higher wages and flexible schedules.
In January, the services sector lost the most jobs (274,000), led by the leisure and hotel business, which cut 154,000 jobs, according to the ADP National Employment Report. Although employment increased slightly last month (179,000 new jobs have emerged in the leisure and hotel business), employment in the sector is still well below pre-pandemic levels.
"People working in retail, hotels or restaurants are realizing that their skills - customer service, communication, time management - are shifting to different industries and are more in demand than ever in this narrow labor market," said Kelly.
A customer service representative, administrative assistant and sales representative are among the most sought after flexible jobs among applicants, according to CareerBuilder. "Job seekers feel better able to look for opportunities outside the industry in which they have worked for years," Kelly added.
What can companies do?
Kelly says that in order to better attract and retain talent, companies need to pay more attention to employee engagement and less attention to job offers.
"The contract signing bonus or extra time off can attract people to work, but how do you communicate with employees and meet their needs once they are hired?" she explains.
Employee engagement can include mentoring programs, virtual team lunches, or "mid-term interviews" (a tool organizations use to assess why their (high-performing) employees stay with them), among other initiatives. "Now is the time for companies to be much more practical, communicative and creative in communicating with their employees," says the specialist.
