Bulgarian Industrial Capital Association

Three employers' associations have risen against an upcoming increase in electricity prices from July, warning that they will demand the resignations of the Energy Minister and the Chair of the Commission for Energy and Water Regulation (KEVR) if the voice of the business sector remains unheard.

Bulgaria's Deputy Prime Minister and Social Policy Minister Ivaylo Kalfin is convening a meeting of the National Council for Tripartite Cooperation (NCTC) on May 26 on the minimum wage level in 2015.

The Supreme Administrative Court (VAS) has overturned a government decree which set the minimum wage in the country at BGN 360-380.

Under a decision dating last year, as of January 1, 2015 the amount rose to BGN 360 (up by BGN 20 compared to 2014) and was to grow by another BGN 20, to BGN 380, on July 1.

40% of workers on a global scale are part of the informal economy, with Bulgaria occupying a prominent place in the ranking with a share of 30-35%, according to Plamen Dimitrov, President of the Confederation of Independent Trade Unions in Bulgaria (CITUB).

Employers' associations have threatened to leave Bulgaria's National Council for Tripartite Cooperation (NCTC), stressing that it has degenerated into a non-functioning and meaningless entity.

At the request of Novinite, the Bulgarian Industrial Capital Association (BICA) has explained the negative consequences on Bulgarian business arising from the devaluation of the rouble.

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Bulgaria's Ministry of Economy will restore the Council on Economic Growth which is used to discuss urgent matters with representatives of the business sector, according to Economy Minister Bozhidar Lukarski.

Vasil Velev, Chair of the Bulgarian Industrial Capital Association (BICA), has pointed out that all associations of employers adamantly oppose the proposal for an increase in the minimum wage.

The majority of companies in the industry sector will give their employees Christmas bonus payments, according to a survey of the Bulgarian Industrial Capital Association (BICA).

The share of shadow economy in Bulgaria's GDP has dropped from 42.2% in 2010 to 32.3% in 2014, shows a survey of the Bulgarian Industrial Capital Association (BICA).

The survey was part of BICA's Limiting and Prevention of Informal Economy project, published on its website.