site.btaBudget for Social Spending Expected to Increase by Nearly BGN 760 million in 2025 - Labour Minister

Currently, the amount that is foreseen for social spending in the budget for 2025 is about BGN 3,620,000,000, an increase by nearly BGN 760 million compared to this year, caretaker Minister of Labour and Social Policy Ivaylo Ivanov said on Bulgarian National Radio on Sunday.

Ivanov presented data on the average wage in the country, showing it stood at BGN 2,296 in the second quarter of this year. He recalled that it varies for different regions in the country, with the highest being in Sofia.

Regarding the minimum wage, the Minister noted that it is set in the Labour Code, which states that it is 50% of the gross average wage. Ivanov pointed out that the regime for setting the minimum wage is automatic and there is no risk that the minimum wage will not increase from as of January 1.

Regarding the increase in pensions next year, the Minister commented that it would be done according to the Swiss rule. 

Asked whether the retirement age will soon reach 70, Minister Ivanov said that this is not being discussed at the moment, recalling that by 2037 the age should reach 65 for all EU countries. "There is no country anywhere in the EU that has proposed such a thing," he added.