Text size

More money for social spending in Budget 2025, says Social Minister

published on 10/6/24 3:35 PM

Photo: BGNES

The social spending in the state budget for next year is expected to be increased by BGN 620 million, Caretaker Minister of Labour and Social Policy Ivaylo Ivanov told BNR. Thus, the total amount for them will amount to about BGN 3.6 billion (EUR 1.8 billion).

The minister also said that from 1 January 2025 the minimum wage will certainly increase, as the Labour Code stipulates that it should be equal to 50% of the gross average wage. In the second quarter of this year, the average wage in Bulgaria was BGN 2,296.

As for the increase in pensions, this will be done according to the so-called Swiss rule (increase by 50% of the inflation rate and 50% of the increase in the average social security income). "The pension increase will be lower than this year's because inflation is decreasing," Ivaylo Ivanov warned.

Asked whether we will soon retire at 70, the minister said this is not being discussed at the moment, recalling that by 2037 the age should reach 65 for all EU countries.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria News average wage in Bulgaria minimum wage in Bulgaria

More from category

A white fairy tale from Burgas!
Photo: Marina Kirova in the Facebook group

Frosty weather, subzero temperatures expected in almost all regions of Bulgaria on Thursday

On Thursday, the minimum temperatures in Bulgaria will be between minus 14 °C and minus 8°C. In Sofia, it will be around minus 12°C. The day will be sunny but frosty. The thermometer values in most places will be negative. Before noon, there will be..

published on 2/19/25 7:05 PM

Bulgaria honors the memory of national hero Vasil Levski

With various events throughout the country Bulgarians are marking 152 years after the death of the Apostle of Bulgarian Freedom Vasil Levski. Today, at 6:00 p.m. a memorial ceremony in front of the monument to the Apostle of Freedom in Sofia takes..

published on 2/19/25 6:08 PM

Request for extraordinary report on readiness for eurozone membership will be signed

BNB Governor Dimitar Radev will sign the request for an extraordinary convergence report on the fulfillment of the criteria for eurozone membership. This is clear from his response in an interview with BTA, in which Radev announced that the Central..

published on 2/19/25 5:33 PM