President invites GERB for first consultations
President Rumen Radev invited the largest parliamentary party, GERB, to consultations on Wednesday but emphasized that he would not hurry with the consultations and the distribution of mandates.
The head of state insisted that he expects all parties to assume their responsibility and not to make the mistake of the last parliament, when, in his words, the question of power obsessed the entire activity of the National Assembly. He noted it is particularly important to do everything possible to create the necessary environment in Parliament to scrutinize the 2023 budget and the many laws that are currently waiting to be passed in order to achieve economic and social stability.
2023 State Budget see further pensions hike but no change to minimum wage
The money the National Social Security Institute will distribute next year will increase dramatically - from 9.6% of GDP this year, through to 11% in 2023. This means a nominal increase of 4.5 billion levs to a total of 21.8 billion levs.
The minimum wage and the maximum insurance income will not be increased next year, according to the document. The minimum work salary is expected to remain 710 levs, and the maximum insurance income - 3,400 levs.
Companies to raise wages by 8% in 2023
Companies in Bulgaria plan to increase employees' salaries by an average 8% next year. This is shown by Mercer's annual Total Remuneration Survey (TRS), conducted in May 2022 among 461 companies. That's double what it was in 2021.
While most employers are looking to partially offset inflation, the main reason for the wage increase remains the struggle for staff, the survey also shows. As additional benefits, companies in Bulgaria most often offer their employees health insurance (83%), a company car and free parking. Food vouchers are also among the popular measures (66%), with the average value this year increasing to 100 levs (compared to 80 levs last year).