Indexation

Acting Minister of Labor and Social Policy Ivaylo Ivanov has suggested to the Supervisory Board of the National Insurance Institute (NII) that pensions granted until the end of last year be increased by 11% starting from July 1st.

Bulgarian State Railways (BDZ) has declared a significant adjustment in train ticket prices, citing a sharp surge in the company's expenses over recent years. According to the press center of the national railway carrier, the price hike, averaging 20%, is scheduled to take effect from May 7.

Mobile users will now have the right to cancel their contracts with mobile operators without incurring any penalties if inflation indexation is announced.

Bulgarian telecommunications companies are set to implement price increases this year, citing the impact of inflation. This follows a similar adjustment in February 2020. While Vivacom and A1 have confirmed the upcoming indexation, Yettel has chosen not to comment at this time.

But changes to pensions inevitably create fear and loathing, while any positive impacts won't be seen for years. It's little wonder then that, with so many Czech governments having led a precarious existence, little progress has been made over the decades.

The average annual inflation is expected to be 12.6%, announced the Acting Finance Minister Rositsa Velkova. She presented the preliminary calculations of the macroeconomic forecast until 2025.

Next year, inflation will slow down to 5.8%, expect from the Ministry of Finance.

The minimum wage will remain at the level of BGN 710 (EUR 363) until 2025, it is clear from the draft of the new medium-term budget forecast of the Ministry of Finance. It envisages a lower rate of annual growth of pensions - from July 1, 2023, it will be 9.1 percent, and in the coming years, the indexation will be respectively 6.9 and 5.4 percent.

Spain will pay workers to postpone retirement as part of a pensions reform strategy that analysts warn does not go far enough to cut a huge deficit in the system.

The minimum wage will be indexed on Wednesday, in the Government meeting, by 3.1%, namely 70 lei gross, and the pensions will be increased this year at least by the inflation rate, Minister of Labor Raluca Turcan told private broadcaster Digi 24 Tuesday evening.

He said in an interview for daily "Blic" that the increase in the public sector would follow from the November salary, which is paid in December.
"Talks with the IMF are currently underway, and we are encouraged by a budget surplus of RSD 46.6 billion in August," Mali said.