01.09.2011
According to the country"s Finance Minister Simeon Djankov, the minimum wage rise will cost its state budget approximately BGN 15 – 20 M. However, the private sector"s expenses will be much higher, the Dnevnik daily points out.

Some 120 000 Bulgarians officially receive minimum wage in Bulgaria, according to the country"s National Statistical Institute. A total of 20 000 of them are on a state payroll.

Also starting Thursday, the retirement allowances for widows and widowers in Bulgaria increase from 20% of the deceased spouse to 26.5%.

According to a recent study conducted in the Sofia-based University of National and World Economy Bulgaria will need 41 years to reach the minimum wage rates of EU"s most advanced countries.

Currently, the minimum wage in the country is nearly half of the amount of money deemed by the National Statistical Institute as necessary for an individual to survive a month in "normal" conditions