Bulgarian Finance Minister Envisages BGN 710 Min. Salary and BGN 3,400 Max. Insurance Income
The Deputy Prime Minister and Minister of Finance Asen Vassilev defined the draft financial framework as a "budget for economic growth". It envisages economic growth of 4.8%. It will enter into force on April 1, when the minimum wage will increase from 650 to 710 BGN. Despite the dissatisfaction of some businesses, the maximum insurance threshold is increased from BGN 3,000 to BGN 3,400.
Bulgaria: Record Investments are Set in the 2022 Budget
What else does the draft budget for this year envisage?
From April 1, the minimum wage will be BGN 710, announced Deputy Prime Minister and Minister of Finance Asen Vassilev. The maternity benefit in the second year is increased to this amount.
Pensions will be updated by 6.1% from July 1st, Vassilev said. Asked to comment on the dissatisfaction of some businesses against the increase of the maximum insurance threshold from BGN 3,000 to BGN 3,400, he replied:
"The maximum insurance income, as well as the minimum wage, must be in tandem with the average wage."
Bulgaria: Payment of BGN 75 Supplement to Vaccinated Pensioners Starts on February 1
Economic growth budget - this is how the Minister of Finance presented the financial framework of the draft budget for 2022:
"Budget 2022 has three main focuses - increasing capital investment not only from the EU but also the national budget; significant increase in investment in people because it is the key to long-term economic growth; as well as social justice and ensuring an adequate standard of life of all citizens", said Minister Vassilev.
With Budget 2022 Asen Vassilev wants to put a new approach to budgeting: