Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

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

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!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

It will be cloudy over Bulgaria with precipitation and snowfalls

On Wednesday night, there will be rain showers in the south-western regions of the country. At 500 meters above sea level the rain will turn to snow. There will be no precipitation in the north-western regions of Bulgaria. During..

published on 11/12/24 6:50 PM
L to R: Tomislav Donchev, Boyko Borissov, Raya Nazaryan

GERB/SDS announce the start of political consultations in parliament

The coalition GERB/SDS are beginning talks for discussing joint political action within the 51 st National Assembly, the GERB/SDS press centre has announced. The meetings start on Wednesday, 13 November. Talks with the coalition Bulgarian..

updated on 11/12/24 6:02 PM

The Confederation of Labour "Podkrepa" strongly criticizes the draft amendments to the Labour Code

The Confederation of Labour "Podkrepa" has strongly criticized the draft amendments to the Labour Code prepared by the Ministry of Labor and Social Policy, according to which the growth of the minimum wage is linked only to inflation. In a statement,..

published on 11/12/24 5:58 PM