The difference in the minimum wage in Bulgaria, Romania and Spain is colossal – Bulgaria

M a minimum of BGN 2,616 is needed per month for a family with one child. Spending jumped 4.3%. The subject was commented on by the deputy director of the Institute for Social and Trade Union Studies at the National Security Council, Violeta Ivanova, on the air of “Hello, Bulgaria”.

She explained that currently about 1 million people in our country cannot reach a living wage, and last year they were 1.7 million people. The expert added that in 2023 this will be 67% of the working population, and this year – 65%.

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The data show that BGN 113 is needed for 20 vital goods, Ivanova pointed out. “In Spain, with one minimum wage, these products can be bought 26 times, in Romania – 15 times, and in Bulgaria – 8.2 times,” she added.

Ivanova also said that according to the directive for an adequate minimum wage, which must be transposed by November 15 in the country, the remuneration must be equal to the living wage, which is BGN 1,616 for one person. “Then we won’t be talking about the working poor,” the expert said.

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Ivanova explained that in 2023, the prices of food products jumped by 21%. There is currently a hold. “When we say that the small consumer basket has grown by 4%, this is against the background of already increased prices, and therefore it cannot be felt that inflation has been overcome,” added the specialist.

Garabed Minasyan, an economist from the Institute for Economic Research at the National Academy of Sciences, and Hristina Hristova, the former social minister, commented on the topic on the air of the program “Your Day” on NOVA NEWS.

Hristova believes that the KNSB data show a calming of the inflationary process. She emphasized that the International Labor Organization has adopted the so-called “living wage” which will lead to a great deal of discussion.

According to Prof. Minasyan, the incomes of other European countries and Bulgaria are different, and with entry into the Eurozone, these differences will be felt more drastically. He emphasized that labor costs in Bulgaria are growing rapidly, while productivity remains low.