A working group comprising representatives of employers, trade unions and government experts is discussing the proposals of the Ministry of Labor and Social Policy for introducing a new mechanism to determine the minimum wage. This is happening a day before the deadline for implementing the Directive on adequate minimum wages in the European Union.
The delay in implementing the new rules could lead to an infringement procedure against Bulgaria by Brussels. The ministry's proposals, framed as changes to the Labor Code, have been strongly opposed by the trade unions, unlike the employers who support them. The employers have challenged the current formula for determining the minimum wage in the country before the Supreme Administrative Court. To avoid the infringement procedure, the Ministry of Labor and Social Policy proposes that the changes come into effect as of October 15 this year.
The base interest rate in Bulgaria is decreasing to 1.91% as of July 1, announced the Bulgarian National Bank. The base interest rate is dropping by 0.16% compared to the previous month, when it stood at 2.07%. Thus, the base interest rate will be..
In 2025, Bulgarian tourism maintains sustainable growth despite global challenges. According to analysts, a record number of foreign visitors is expected in the coming months as a result of stable international markets and the..
The Bulgarian Investment Agency (BIA) and the Japan External Trade Organization (JETRO) are signing a memorandum of understanding that will give new impetus to the trade and economic relations between Bulgaria and Japan. The two countries are seeking..
Italian investors have shown interest in the concession and development of Plovdiv Airport as a passenger and cargo terminal. This became clear during a..
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