site.btaPM Denkov: Minimum Wage to Be Increased by BGN 153 to BGN 933 Starting 2024

We are going to make a decision to increase the minimum monthly wage by BGN 153 so that from BGN 780 in 2023 it becomes BGN 933 on 1 January 2024, Prime Minister Nikolay Denkov said here at the beginning of Wednesday's Cabinet meeting. 

"With this decision we will fulfil one of our commitments, combined with other measures, to reduce inequality in Bulgaria, which is too high by European standards. Bulgaria continues to be the country with the lowest minimum wage in the European Union. We need to gradually move out of the situation of an economy that attracts investors with its low wages," Denkov said. 

"We need to attract investment by offering high quality production, high added value and a trained workforce. This will take time, but today's decision is a step in that direction," the Prime Minister added.  

The question of the proposed new minimum wage was discussed at the meeting of the National Council for Tripartite Cooperation held on 5 October. The trade unions supported the proposal, while the employers' organizations opposed it.