site.btaSome 450,000 People in Bulgaria Are Insured at Minimum Wage, Says Deputy Minister Gergana Aleksova
Speaking at a conference titled “Time for a Review: How Has This Tax System Served Us So Far?”, organized by the Confederation of Independent Trade Unions in Bulgaria (CITUB), Deputy Minister of Labour and Social Policy Gergana Aleksova said that around 450,000 workers in Bulgaria are insured at the minimum wage. According to the Ministry of Labour and Social Policy, this is a significant number, indicating a high level of informal economic activity, she noted.
“We must continue to fight against the grey economy and not give up on this effort. When a worker agrees to be insured at the minimum social security threshold, they are effectively securing themselves the lowest possible pension,” Aleksova commented.
She added that Bulgarian society is highly sensitive to changes in the area of social security. “Increasing revenues from taxes and social contributions will undoubtedly have a positive fiscal effect, but we must not forget that such increases reduce workers’ net incomes,” the Deputy Minister said.
/RY/
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