03.02.2022
INVITATION FOR PARTICIPATION IN PUBLIC DISCUSSION AND PUBLIC CONSULTATIONS OF THE DRAFT PROGRAM FOR CROSS-BORDER COOPERATION BETWEEN BULGARIA AND SERBIA 2021-2027
In connection with the preparation of the final version of the Cross-border Cooperation Program INTERREG IPA Bulgaria-Serbia 2021-2027 for official transmission to the European Commission (EC), as well as pursuant to Art. 14, para. 2 of Decree № 142 of the Council of Ministers of 2019, the Ministry of Regional Development and Public Works invites to participate in a public discussion of the draft program, which will be held on February 22, 2022 at 15:00. The discussion will be conducted remotely through the WebEx application in real time.
Those wishing to take part in the public discussion should send the following information: three names, e-mail and institution/organization they represent (if any) by February 15, 2022 to ma_ipacbc@mrrb.government.bg
After the expiration of the specified deadline, those who wish to participate in the event will receive the details for inclusion in the WebEx meeting of the e-mails specified by them.
The Ministry of Regional Development and Public Works will continue to perform the functions of the Managing Authority of the Cross-Border Cooperation Program between Bulgaria and Serbia in the next programming period 2021-2027. The project of the INTERREG IPA Bulgaria - Serbia 2021-2027 program has been published for public consultations on the Public Consultation Portal www.strategy.bg and on the website of the Ministry of Regional Development and Public Works www.mrrb.bg.
You can submit comments and opinions on the published draft of the program by March 4, 2022 in the office of the Ministry of Regional Development and Public Works at the address: Sofia, St. St. Cyril and Methodius № 17-19, as well as in electronic form at the e-mail address: ma_ipacbc@mrrb.government.bg.
03.02.2022
THE SOCIAL PROTECTION FUND OF THE MLSP WILL FINANCE PROJECTS FOR MODERNIZATION OF SOCIAL SERVICES
The Social Protection Fund (SPF) of the Ministry of Labor and Social Policy is raising funding for project proposals of municipalities and private providers for the modernization of the material base of social services and support for the activities of social enterprises.
The projects will be financed in two directions. Under Component 1, the SPF will finance proposals for the acquisition of fixed assets and current maintenance of the material base for the provision of social services, as well as for the construction of a new or for reconstruction and modernization of the existing material base for the provision of social services. A total of BGN 800,000 will be provided for financing projects in this area. Project proposals will be accepted until March 31 and will be ranked and approved by April 30.
Under Component 2, the Social Protection Fund will provide funds to support the implementation of social activities and/or to achieve the social goals of social enterprises entered in the Register of Social Enterprises. The approved proposals will be funded with a total of up to BGN 50,000. The projects will be accepted until April 30, and will be approved and ranked until May 31.
The announcement and the application documents are published on the following website address: http://mlsp.government.bg/fond-sotsialna-zakrila - section "Documents".
03.02.2022
WHEN AND WHY WE NEED AN EMERGENCY FUND
No matter how good a budget plan we have, extraordinary expenses are a part of life that is not under our control. They may be related to the need for unexpected repairs, urgent purchase, medical treatment, job loss.
The reasons are various, but the solution is one - to create an "emergency fund" that will protect you from taking (quick) credit. That is why at the very beginning of our working career we should start thinking about setting aside funds for an emergency fund.
What is the emergency fund
The emergency fund is an essential part of our financial protection in unforeseen circumstances. An important factor for any emergency fund is liquidity. You need to be able to get the amount you need as quickly as possible to deal with the situation. One option is to keep money in your home and the other in a bank account. You can make a combination of both, provided you are not tempted to use the cash for other things.
Keeping the amount at home provides us with quick access to funds, but there are security risks. In the event of a natural disaster or robbery, you would not have the fund at the time you need it most. When depositing money in a bank, a high level of protection is ensured at the expense of their liquidity. You need to be sure that you will have access to the funds within 1-2 days, as well as be careful about bank fees.
It should be able to cover your needs for a period of about 6 months. The minimum is 3 months, but the more solid amount you manage to set aside, the calmer you will look to the future. Of course, the amount in this fund should not be too large (for more than 12 months), because uninvested money does not bring profit. As you know, in Bulgaria for a long time now you do not earn interest on savings or current accounts.
How to save for the fund
If you have not saved so far and do not have an emergency fund, now - during the pandemic - it is a very good idea to start. With an emergency fund, you would be more comfortable with inflation and recession, as you will have a "financial cushion". The emergency fund is a buffer between you and life not only in times of crisis, because surprising events can happen at any time and it is good to be prepared for them in advance.
Even if they save regularly for their long-term goals, some people do not envisage this financial buffer in their personal planning and resort to their savings in case of extraordinary expenses. And in this way they move away from achieving the goals they have set for themselves. The other important rule is that the allocation of funds for the emergency fund should be provided before a person directs any savings to investment products.
When you save for an emergency fund, there are no limits on the amounts - you can collect in small installments each month or arbitrarily with different amounts. And if you have had to use your emergency fund, your first goal is to restore it to its original size. If you lose your income and have to live with this money for a long time, try to limit your expenses so that the amount reaches you for as long as possible. In addition, you need to look for a new source of income so that you do not have to resort to loans.
02.02.2022
PHILIPS IS LOOKING FOR LOW-PAID WORKERS FOR ITS PLANT IN ROMANIA
The Dutch manufacturer of consumer electronics and home appliances Philips is looking for 100 unskilled workers for its factory in Orastie, Romania. Employees will assemble coffee machines and electric toothbrushes, the Romanian newspaper Ziarul Financiar reported.
Unskilled workers assembling parts receive the lowest salaries in Romania - less than 2,000 Romanian lei (400 euros) net per month.
The company reports a turnover of over 1.1 billion lei (231.8 million euros), a net profit of 42.5 million lei (8.8 million euros) and has more than 1,400 employees, according to the website of the Ministry of finance.
Founded about 21 years ago, according to information provided by Philips, the factory in Romania was taken over by the Italian company Saeco in 2009 and is one of the two production units in Europe of the Dutch giant specializing in the production of automated coffee machines. Electric toothbrushes under the Sonicare brand are also assembled there, Romania Insider writes.
Romania needs investments to give it a better place in international production chains and help it avoid the middle-income trap, said Daniel Dayanu, a member of the National Bank of Romania and head of the Fiscal Council.
At the same time, such investments will allow for better wages and reduce workers' emigration, Dayanu added.
01.02.2022
WHEN WE ARE ENTITLED TO BIRTHDAY LEAVE
There is no explicit provision in the Labor Code that entitles an employee to use leave because he or she has a personal holiday (birthday in this case).
Leave due to personal holiday (birthday) can be agreed in the collective labor agreement (CLA) or by agreement between the employee and the employer. This means that if there is no collective agreement (CLA) that applies to the individual employee, the only way to obtain the right to use such leave is by individual agreement between the parties (which can be concluded at any time during the operation of the employment relationship), otherwise the employee will not be entitled to leave. If the employer does not agree to conclude an individual agreement or collective agreement in which this right is regulated, then the birthday leave is not due to the employee.
Reference:
Art. 50 of the Labor Code
Art. 66, para. 2 of the Labor Code
01.02.2022
NEW ACCEPTANCE OF DOCUMENTS FROM EMPLOYERS UNDER MEASURE 60/40
As of today, February 1, the Employment Agency has launched a new application procedure for the measure, which has gained popularity as 60/40.
It may include employers seeking support for maintaining the employment of their staff in the period January - February 2022. This possibility is provided by Decree of the Council of Ministers № 482 of 30.12.2021, amending the already well-known Decree № 151/2020, which builds on the anti-crisis measure to support employment, which started in March 2020.
The terms and conditions for receiving support in the period January - February 2022 are similar to those applied in the previous months August - December 2021. The measure continues to support the maintenance of employment in enterprises engaged in economic activity in Decree of the Council of Ministers № 151/2020 sectors whose average monthly sales revenue in 2020 decreased compared to 2019.
The regulated support at this stage also amounts to 60% of the income and social security contributions of each employee in enterprises whose sales revenues have decreased by at least 40% during the month for which the support is provided, but already compared to the average monthly income for the whole of 2019.
For employees in enterprises whose sales revenues have decreased compared to the average monthly revenues for 2019 by not less than 30 percent in the month for which the support is provided, funds in the amount of 50% will continue to be paid. For those established after January 1, 2020, the decline in income for the month for which they apply will be determined compared to the average monthly income for 2020. The amount of funds provided for each employee will now be determined based on his insurance income for October 2021.
The funds for the current design of the measure will be paid monthly, as the documents for those who worked in January 2022 will be accepted from 1 to 28 February, and for those who worked in February 2022 documents will be accepted only within March.
Employers who meet the conditions of the Council of Ministers Decree № 151/2020, as amended with CMD № 482/30.12.2021, and wishing to receive support for January and February 2022, may apply consecutively for the two months using the same forms and sample documents.
At this stage of measure 60/40, the application and the documents for payment of funds under the Decree are submitted to the Directorate "Labor Office", serving the territory of the place of work of employees, regardless of the method of submission. Applications and accompanying documents may be submitted electronically through the Secure Electronic Service System (SЕSS), sent through a licensed postal operator, and submitted on site to the relevant labor office with mandatory and strict compliance with all anti-epidemic measures.
On the website of the Employment Agency, in the section "Financial incentives for employment" will be published materials for information of employers, the application procedure, containing the conditions, requirements, procedure and manner of application, application forms and annexes to it and other auxiliary materials.
01.02.2022
ENTREPRENEURSHIP: 4 WAYS TO PRESENT YOUR BUSINESS TO LOCAL CONSUMERS
Engaging your local community is essential if you want your business to succeed. Every local marketing effort aims to nurture lasting relationships that will help raise brand and revenue awareness. To do this, you need to build real relationships with the people in your community, develop an effective strategy, and remain patient. With the right local advertising strategy, it will be easier to start your business or create a new customer base, both of which are essential for your long-term success. Here are some tips for building your local marketing strategy.
Participate in activities that benefit the community
You can volunteer to help with local events, help with cleaning or do gardening in nearby parks, or sponsor a charity event at a local school. Participating in such events allows you to meet amazing people in your neighborhood who can become your customers or direct you to other people who will become your customers. Volunteering is in most cases a winning strategy. Through it, you have the chance to help those in need, while expanding your network and increasing the visibility of the business.
Work with other local companies
Another way to effectively market is to contact some local companies. It may come as a surprise to find out how willing they are to partner with you in some way. For example, a business may have a lot of traffic, but a limited email list. In this case, you can offer to mention their business in your online newsletter against some kind of physical advertising on their premises. You can create the partnership that works best for you.
Offer local discounts
Distributing coupon codes and free shipping to your area will help encourage more people to order from you. This will also help increase loyalty in the local area.
Use personalized messages
Take the time to personalize your brand to the local community. For example, if you sell physical products, pay more attention to the local area by designing them with the colors of local sports teams, mascots and more. You can also offer a "special edition" of your product that is accessible to your community, creating the attitude that there is even more value behind this product.
28.01.2022
FEES FOR WITHDRAWAL FROM AN ATM DEVICE
Fees for withdrawing money from an ATM device are around BGN 0.30 for using an ATM of the bank issuing the debit card and between BGN 1.10 and BGN 1.50 for withdrawing money from an ATM of a foreign bank, experts of the site "My money" have calculated ". There are also banks that apply lower or higher fees.
In the ranking of the site for withdrawing money from an ATM of the issuing bank, BACB, which does not collect fees, is ranked first. No money is collected for withdrawing money with TBI - MasterCard Gold for the first 20 withdrawals of the year, and the next fees are BGN 0.99 per operation.
Most other banks charge BGN 0.30 per withdrawal. There are also banks that charge a minimum of BGN 0.30 plus 0.15 or 0.16 percent of the amount withdrawn, but here too the fees are usually a few tens of stotinki.
Withdrawing from an ATM of a foreign bank is more expensive and ranges from BGN 1.00 to BGN 1.50 per operation. In the first place in the cassation of the site is "TBI - MasterCard Gold", where the conditions for withdrawal are not different from those of the issuing bank. In second place is BACB with a fee of BGN 0.80. Most other banks charge about BGN 1.25 to BGN 1.50. Some banks charge a fee as a percentage of the amount withdrawn, which is at least 0.20 percent of it.
The Bulgarian National Bank (BNB) has already disseminated information on the financial effect of raising fees. There are still no data for the beginning of the year, information is summarized only for the third quarter of 2021. According to the BNB, on an annual basis the total net operating income of banks in the third quarter of 2021 increased by BGN 176 million (5.7 percent) to BGN 3.3 billion, to which it contributed mostly by the large amount of net income from fees and commissions.
Compared to the first nine months of 2020, the net income from fees and commissions increased by BGN 145 million (19.2 percent) to BGN 904 million and its share in the net operating income of banks increased from 24.4 percent to 27.5 percent, according to the central bank.
28.01.2022
FOUR "UNPRODUCTIVE" HABITS THAT CAN MAKE YOU MORE PRODUCTIVE
2020 has brought new challenges in the way entrepreneurs attract customers, use technology and outperform their competitors.
Many business leaders are working hard to adapt to these changes. Unfortunately, using this approach is exhausting for the mind and body and counterproductive for finding innovative ideas, writes wellness coach Stacy Stratton at Entrepreneur.com.
If you are looking for ways to be more productive, try these four "unproductive" habits to improve your energy levels and creativity and take your business to the next level.
How long should you sleep? The amount of sleep depends on the needs of your body, but your goal is to wake up rested. While you sleep, your body performs the basic maintenance it needs. Your cells recover, your brain processes information, and your nervous system relaxes.
When you steal from your sleep, you steal from yourself. If you like waking up early, try to get things in order so you go to bed earlier. If you want to stay up late at night, start allowing yourself to sleep until later.
When deadlines are running out, it's easy to forget what's best for the brain. You may think you just have to keep going, but a 2011 University of Illinois study shows that focusing too long on a task actually lowers productivity.
Something simple, such as a brisk walk, can help creativity and increase energy. There are several different methods and techniques you can choose to follow. One is to take breaks every 25 minutes, and another is to work non-stop for 90 minutes. The most important thing is to determine which approach works best for you.
Take enough time for activities that provide your mind and body with what you need. One of the breaks may include stretching, another for healthy eating and a short nap to cheer you up.
Children laugh many times a day, while the average adult laughs much less. Adults have a lot of responsibilities and stress, but it is important to find ways to do things every day that make you laugh and bring you joy.
A few years ago, the World Health Organization (WHO) described "stress" as the "21st Century Health Epidemic." Since then, the COVID-19 pandemic has increased the levels of stress that people are exposed to at work and at home.
One way to deal with stress is through laughter. When you laugh, your body releases endorphins, which lower stress and improve your mood. Studies also show that laughter can help lower blood pressure.
Every day, try to find ways to laugh more. It only takes a few minutes to quickly watch a video or talk to a funny friend, and then you will immediately begin to feel the benefits.
Is your calendar full of appointments, projects, and endless things to do? Constantly working on several tasks at once and a busy schedule can make you feel overwhelmed and exhausted. It is important to take the time to spend in silence every day.
Meditation can be an effective way to relax the mind while promoting creativity and concentration. It can also help reduce stress levels and negative emotions.
Meditation may seem daunting or even difficult because your thoughts are wandering, but there are many great applications that can help you with this process. It may be helpful to start with just a few minutes a day and then increase the time.
28.01.2022
EUROSTAT: BULGARIA HAS THE LOWEST MINIMUM WAGE
As of 1 January 2022, there is a national minimum wage in 21 of the 27 EU Member States, not only in Denmark, Italy, Cyprus, Austria, Finland and Sweden.
Based on the levels of the minimum wage in euros, these 21 Member States can be divided into three main groups, according to Eurostat data.
Monthly minimum wages (before deducting all taxes and social security contributions) are below € 1,000 in 13 EU countries, and in 6 they are over € 1,500.
In January this year, 13 Member States located in the east and south of the EU had minimum wages of less than € 1,000 a month.
It is the lowest in Bulgaria (332 euros), followed by Latvia (500 euros), Romania (€ 515), Hungary (€ 542), Croatia (€ 624), Slovakia (€ 646), the Czech Republic (€ 652), Estonia (€ 654), Poland (€ 655), Lithuania (€ 730), Greece (€ 774), Malta (€ 792) and Portugal (€ 823).
In Slovenia (€ 1,074) and Spain (€ 1,126) the minimum wage varies just over € 1,000 per month, while in the other six Member States the minimum wage is over € 1,500 per month: France (€ 1,603), Germany (€ 1,621), Belgium (€ 1,658), the Netherlands (€ 1,725), Ireland (€ 1,775) and Luxembourg (€ 2,257).
By comparison, the federal minimum wage in the United States was 1,110 euros in January 2022.
It can be seen that the lowest minimum wage in Bulgaria is almost 7 times lower than the highest in Luxembourg. However, the differences are significantly smaller when differences in price levels are taken into account.
In terms of the Purchasing Power Standard (PPS), minimum wages in Member States with lower price levels become relatively higher than those in Member States with higher price levels.
By eliminating price differences, the minimum wage varies from 604 PPS per month in Bulgaria to 1,707 PPS in Luxembourg, which means that the highest minimum wage was almost 3 times higher than the lowest.
Based on this, it is possible to distinguish two main groups: group 1 with a national minimum wage above 1,000 PPS and group 2 with a national minimum wage below 1,000 PPS, according to official European statistics.
Group 1 includes Luxembourg, Germany, the Netherlands, Belgium, France, Ireland, Slovenia, Spain, Poland and Lithuania. Their national minimum wages range from 1,038 PPS in Lithuania to 1,707 PPS in Luxembourg.
The second group includes Romania, Portugal, Malta, Croatia, Greece, Hungary, the Czech Republic, Estonia, Slovakia, Latvia and Bulgaria. The national minimum wages for this group range from 604 PPS in Bulgaria to 949 PPS in Romania.
All candidate and potential EU candidate countries with a national minimum wage belong to Group 2, with minimum wage levels ranging from 401 PPS in Albania to 888 PPS in Montenegro.
According to this indicator, the United States also falls into the second group with 920 PPS.
