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 divergence between the monetary and the fiscal policy pursued by the government continues to be the main reason why Bulgaria does not meet all criteria yet for entering the Eurozone,” Lyubomir Karimansky, member of the Governing Council of the..
Germany remains Bulgaria's strongest economic partner. Trade between the two countries for 2024 amounts to EUR 12 billion, said Tim Kurth, President of the German-Bulgarian Chamber of Industry and Commerce. At a ceremony held at the University of..
Bulgaria can meet the convergence criterion for price stability, needed for entering the Eurozone, in January 2025 and continue to meet it throughout the rest of the year, the Bulgarian National Bank (BNB) states in its macroeconomic outlook,..
Germany remains Bulgaria's strongest economic partner. Trade between the two countries for 2024 amounts to EUR 12 billion, said Tim Kurth, President of..
“The divergence between the monetary and the fiscal policy pursued by the government continues to be the main reason why Bulgaria does not meet all..
Cloudy
Cloudy