Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Industrial Capital Association: Increasing the minimum wage is a mistake

Vasil Velev, chairman of BICA
Photo: BGNES

The Bulgarian Industrial Capital Association (BICA) forecasts a decline in the country's gross domestic product between 3.5 and 5.5% depending on the development of the second wave of Covid-19. This was said for BNR by the chairman of the association Vasil Velev. According to the forecast, this decline will not be compensated in 2021. Velev stressed that also in 2021 there should be measures to support employment and income, at least for a few more months, as well as support for investment in the economy.
According to Velev, the increase in the minimum pension proposed by the government is a wrong and inadequate policy. There should be no minimum pension at all - the pension should depend on the insurance contributions. If someone has a very small pension - then social assistance comes into force. It is also a wrong policy to increase the minimum wage with rising unemployment and falling GDP, the economist said.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Vitosha Mountain, near Sofia

Autumn rains in the Danube Plain, winds in Thrace

On Tuesday, minimum temperatures will range from 8 to 13°C , with Sofia seeing around 9°C. Rain is expected across the country, with heavier showers in north-eastern and central Bulgaria. Yellow alerts have been issued for twelve regions and orange alerts..

published on 11/10/25 7:05 PM

Road Infrastructure Agency proposes restrictions on the movement of heavy trucks on motorways during holidays

The Road Infrastructure Agency (RIA) has proposed the introduction of temporary restrictions on the movement of heavy trucks weighing over 12 tons along the country’s busiest motorways — Trakia, Hemus and Struma— during official holidays in 2026. The..

published on 11/10/25 6:05 PM

Sofia City Court postpones the extradition case of the owner of a ship linked to the explosion in Lebanon

The Sofia City Court has postponed the extradition case of Igor Grechushkin, the owner of a cargo ship linked to the explosion at the port of Beirut in 2020, which claimed the lives of more than 200 people and injured thousands. The judges requested..

published on 11/10/25 5:33 PM