site.btaUPDATED Trade Unions Calculate Net Monthly Cost of Living

The net monthly income needed for a person living alone and working is BGN 1,402.25, said Plamen Dimitrov, President of the Confederation of Independent Trade Unions in Bulgaria (CITUB), at a press conference in CITUB headquarters on Tuesday.

He said that BGN 2,524.05 is the total cost of living for a family of three - two working adults and one child under 14. The income needed to cover minimum living costs increases by 0.6% on a quarterly basis and by 10.6% on an annual basis, Dimitrov reported.

The small consumer basket has appreciated by BGN 20 in one year - from BGN 90 to 109. This means that the cost of living has increased by nearly 11%, Dimitrov said. 

In summary, the general price levels for the cost of living were found to be stable, but the limited consumption of many goods and services continued. Almost 45% of Bulgarians are at risk of poverty and cannot afford normal food, Dimitrov pointed out, adding that the main reason for the rise in the cost of living is the increase in food prices. “The prices of goods and services we buy every day are still high enough, they grow visibly, albeit at a lower rate. This is what determines most of the money we need to live relatively decently,” said Plamen Dimitrov. He also noted that although inflation is declining, the cost of living continues to rise because of food prices, where speculation and cartels are still suspected.

CITUB is demanding changes to the 2023 state budget law with a new BGN 305 million to ensure additional funds for salary growth for all public sector workers to compensate for the cumulative inflation from January 2021 to May 2023, the union president said. CITUB is demanding a minimum increase of 10% on all wages, as well as the introduction of a tax-free minimum and the return of 20% VAT rates on bread, flour and restaurant services.