Four indicators to determine the increase in the minimum wage

The government and social partners have agreed on a mechanism for determining the country’s minimum wage, the government press service announced.

Changes in four indicators, each given equal weight, will determine the extent to which the minimum wage can increase. These are the price index for the small consumer basket, gross median and gross average wages, and gross value added per employed person over the past 10 years.

The lower limit of the wage will be the minimum wage for the previous year, while the upper limit will be determined by the weighted average of the four indicators for the same period.

Employers and trade unions will have until May 15 to negotiate the level of the minimum wage, and until May 31 to prepare a report, based on which the Council of Ministers will determine its final amount for the following year.

Edited by Diana Tsankova