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

About 700,000 Bulgarians with disabilities need support

About 700,000 people with varying degrees of disability need various social services and support. This was announced by the Minister of Labor and Social Policy Borislav Gutsanov at the Center for Social Rehabilitation and Integration..

published on 3/18/25 4:29 PM

Condition of the Kočani fire victims receiving treatment in Bulgaria remains serious

The condition of the 14 victims of the tragic incident in the Republic of North Macedonia, who have been admitted for treatment in Bulgaria, remains serious, the Ministry of Health announced. The eight patients hospitalized in the..

published on 3/18/25 2:49 PM

President and Speaker of the Parliament express condolences at the North Macedonian Embassy

We are waiting for North Macedonia to decide whether there is a need to transport 10 more of the Kočani fire victims to Bulgaria. This was what President Rumen Radev said after signing the book of condolences at the Embassy of North..

published on 3/18/25 1:25 PM