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Draft envisages minimum monthly wage to become 393 euros on January 1

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The minimum monthly wage should be raised to 393 euros from January 1, 2023. This is envisaged in a draft decree of the Council of Ministers, published for public discussion. In the reasons for the rise it is pointed out that the real parameters of the macroeconomic environment, the possibilities of the state budget and company finances have been taken into account. The hike is being proposed even though the 2022 budget will still be in effect in 2023.

On Thursday, the MPs approved at first reading that the minimum wage should be 50% of the average for the country, which means that on January 1, 2023, it should become 434 euros. Such a hike would increase the deficit in the treasury by about 500 billion EUR, Minister of Finance Rositsa Velkova said.

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