The Hellenic Federation of Enterprises (SEV) will prioritize the creation of jobs over increasing the minimum wage in negotiations set to start with the other social partners - employer associations and employee unions - ahead of talks concerning the drafting of a new national collective labor contract.
With the increase of the minimum wage to BGN 510 from January 2018, the income of 400,000 working Bulgarians will increase. This was announced by the Social Minister Biser Petkov.
For pensioners, an increase is also foreseen - from July all pensions will be indexed by 3.8% and the minimum pension will be 207.6 BGN. The pension ceiling, however, remains BGN 910.
Auxiliary pensions appear headed for a fresh cut in 2018, as the single auxiliary social security fund (ETEAEP) will end 2017 with a deficit, against the small surplus originally forecast.
Crucially, while the ETEAEP budget for next year provides for a surplus of 176.01 million euros, expenditure on pensions will be reduced by 150 million euros.