The day in 3 news: BGN 90 million for election; Trade unions seek minimum wage hike; Fertilizer producer Neochim sees record profits

The day in 3 news: BGN 90 million for election; Trade unions seek minimum wage hike; Fertilizer producer Neochim sees record profits

© Юлия Лазарова


Early elections to cost nearly BGN 90 million

The state will allocate BGN 87.7 million for early parliamentary elections on April 2, the government press office announced. The decision was taken at the first meeting of the newly installed caretaker government today.

This is a BGN 20 million increase on the October 2021 elections. The increase is likely partly due to higher pay for members of district and section commissions, which was approved by parliament, as well as greater spending on paper ballots.

Trade unions demand minimum wage increasе

The minimum wage should rise from BGN 850 (an increase that was recently voted by parliament) to BGN 1,000 by the beginning of next year, insist the two largest trade unions in the country. The unions also demand a tax-free floor equal to the minimum wage, which they say would stimulate consumption and reduce inequality.

At a joint press conference, Podkrepa and KNSB called for income growth that would offset inflation for the year, but no lower than 15% in the private and public sectors. For field workers, the two confederations are asking for a 20 percent wage increase.

Neochim's profits jump by almost 70% in 2022

Dimitrovgrad-based fertilizer plant Neochim reported a 67% higher net profit for 2022, despite the increase in the price of natural gas, which is the main raw material used in fertilizer production.

Revenues are also up significantly, with overseas sales practically doubling, the company's report shows. Sales of the company, which mainly produces ammonium nitrate and ammonia, increased by nearly 80% to BGN 626 million, more than half of them coming from abroad. This shows a significant change, as in 2021 most of the production was sold in Bulgaria.

Early elections to cost nearly BGN 90 million

The state will allocate BGN 87.7 million for early parliamentary elections on April 2, the government press office announced. The decision was taken at the first meeting of the newly installed caretaker government today.

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