Bulgarian Minimum Wage Up 20% Since 2005

The minimum monthly salary in Bulgaria has grown 20% from 150 leva (76 euros) in 2005 to 180 leva (92 euros), said Minister of Labour and Social Policy Mrs. Maslarova when presenting the report on the activity of the Ministry over the past two years.

In July 2007 the national associations of workers and employers signed an agreement to raise the average gross monthly salary in the country by 12.9%, Mrs. Maslarova also pointed out.

The average monthly salary in Bulgaria has increased by 28.1% since the start of the present government's term of office. In September 2005 it stood at 317 leva (162 euros) and reached 406 leva (207 euros) at the end of 2007 Q2.

Pensions were raised three times in two years. In January 2006 all pensions were raised by an average of 5%, another raise followed in July 2006, and in July 2007 they were given another 10% raise.

There will be another 10% increase on 1 October, when the average pension will stand at 183.34 leva (93 euros), which is 36% up since the beginning of the government's term of office.

The government is trying to stimulate people who continue to work after they've reached retirement age by adding 1.5% instead of 1% to each year they have in their employment record. The Ministry intends to lift this figure to 3% for each year the person has worked after reaching retirement age.

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