Text size

Industrial Capital Association: Increasing the minimum wage is a mistake

published on 10/20/20 11:30 AM

Vasil Velev, chairman of BICA

Photo: BGNES

The Bulgarian Industrial Capital Association (BICA) forecasts a decline in the country's gross domestic product between 3.5 and 5.5% depending on the development of the second wave of Covid-19. This was said for BNR by the chairman of the association Vasil Velev. According to the forecast, this decline will not be compensated in 2021. Velev stressed that also in 2021 there should be measures to support employment and income, at least for a few more months, as well as support for investment in the economy.

According to Velev, the increase in the minimum pension proposed by the government is a wrong and inadequate policy. There should be no minimum pension at all - the pension should depend on the insurance contributions. If someone has a very small pension - then social assistance comes into force. It is also a wrong policy to increase the minimum wage with rising unemployment and falling GDP, the economist said.

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

Radio Bulgaria News BICA Bulgarian Industrial Capital Association GDP minimum wage pension

More from category

Bulgarian climate is favorable for the development of medical tourism

The combination of a favorable climate, beautiful nature, mineral water springs and healing mud in Bulgaria favors the development of resort treatment. During the 11th Annual Congress of the Bulgarian Union of Balneology and Spa..

published on 9/10/24 9:20 AM

EU Commissioner for International Partnerships, Jutta Urpilainen, is visiting Bulgaria

The European Commissioner for International Partnerships, Jutta Urpilainen, is coming today on a working visit to Bulgaria , the European Commission announced. In Sofia, she will meet with the Minister of Foreign Affairs Ivan Kondov, as well as with..

published on 9/10/24 8:50 AM

Belogradchik invites you to the Balloon Fiesta from September 20

For the fourth year, one of the most beautiful places to fly in the world - the Belogradchik rocks, will host the Balloon Fiesta. Pilots from various European countries will take part with their balloons in the event, which will last from..

published on 9/10/24 6:05 AM