Text size

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

published on 10/6/24 3:35 PM

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!

Radio Bulgaria News average wage in Bulgaria minimum wage in Bulgaria

More from category

Bulgaria and the United States are to expand their cooperation in the energy sector

Bulgaria and the United States are to expand the scope of their Intergovernmental Agreement for cooperation on the project for the construction of a new unit at the Kozloduy Nuclear Power Plant and the civil nuclear programme. This possibility was..

published on 10/3/24 10:38 AM

Bulgaria supports the membership of Serbia and Kosovo in the International Organization of La Francophonie

Caretaker Minister of Foreign Affairs Ivan Kondov is leading the Bulgarian delegation at the 45th session of the Ministerial Conference of La Francophonie, which will be held on October 3 in Paris, the Foreign Ministry announced. The foreign ministers..

published on 10/3/24 10:16 AM

Bulgaria’s Ministry of Foreign Affairs calls on Bulgarian citizens in Iran to leave the country

Bulgaria’s Ministry of Foreign Affairs calls on Bulgarian citizens in Iran to leave the country immediately due to the escalation of tensions in the Middle East, the Situation Center announced on the Foreign Ministry’s website. Bulgarian citizens in..

published on 10/3/24 9:41 AM