Originally Published by Envoy, February 2021. The Trading Economics Application Programming Interface (API) provides direct access to our data. What is the Bulgaria Minimum Wage? The following list provides information relating to the minimum wages (gross) of countries in ⦠The Bulgaria minimium wage rate is 420 Bulgarian lev per month,for all workers. guide to the subject matter. Direct access to our calendar releases and historical data. These are: Bulgaria (â¬332), Hungary (â¬442), Romania (â¬458), Latvia (â¬500), Croatia (â¬563), Czechia (â¬579), Estonia (â¬584), Poland (â¬614), Slovakia (â¬623) and Lithuania (â¬642). By eliminating price differences, minimum wages ranged from 623 PPS per month in Bulgaria to 1,668 PPS in Luxembourg, meaning that the highest minimum wage was 2.7 times higher than the lowest. Minimum wage in Romania in January 2021 is higher than in Bulgaria or Hungary, according to Eurostat report. Salaries in Bulgaria range from 840 BGN per month (minimum salary) to 14,700 BGN per month (maximum average salary, actual maximum is higher). The new minimum wage levels apply to EU Intra-Company Transferee Permit holders, EU nationals, and Combined Permit holders. Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email. The minimum wage in Bulgaria was EUR 235 per month, up by 109% compared to January 1, 2008. Currrently, 21 out of the 27 EU member states have national minimum wages. The Bulgarian government proceeds with its decision to increase the statutory minimum wage despite legal action by employer organisations. The gross minimum salary in Sofia, Bulgaria is of 610 Bulgarian lev per month gross (approximately 311 EUR or 346 USD) as of 2020. © Mondaq® Ltd 1994 - 2021. The minimum wage in Bulgaria will become BGN 650. Minimum Wage and Poverty in Bulgaria. or the collective bargaining rate for the position, whichever is
Between 2015 and 2016 alone, the number of employed has dropped by 73,000. Expressed in purchasing power standard, the minimum wage ranges from PPS 547 in Latvia to PPS 1 634 in Luxembourg. The new minimum wage in Bulgaria is at EUR 261 and is the lowest minimum wage in the EU reflecting the fact that the country has also the lowest income in EU with average monthly net earnings of approx EUR 400. minimum wage increase does not affect EU Blue Card holders. From 1 January 2021, it will rise by 6.6% compared to this year, the government has decided. The minimum wage increase does not affect EU Blue Card holders. In 2020 the minimum wage in Bulgaria stood at 1.87 euro an hour â the lowest in the EU.. Data of the European Trade Union Institute regarding the lowest statutory remuneration in the European countries show that North Macedonia is the only country where the minimum wage is lower â at 1.63 euro an hours, in Serbia it is 2 euro an hour. increased minimum wages to BGN 650 per month in 2021, The change apples to EU ICT permit
There is a single national minimum wage in the country determined by a decree. Bulgaria has the lowest minimum wage amongst members, at â¬332 a month. Bulgaria's minimum wage is the lowest in the EU. The new minimum wage levels apply to EU Intra-Company Transferee Permit holders, EU nationals, and Combined Permit holders. While no longer an EU member, the UKâs minimum wage stood at â¬1,765 a ⦠POPULAR ARTICLES ON: Employment and HR from Bulgaria. As of January 1, twenty-two out of the 28 EU member states have national minimum wages â only Denmark, Italy, Cyprus, Austria, Finland and Sweden do not have any. To print this article, all you need is to be registered or login on Mondaq.com. The changes apply to current work permits, pending applications,
Minimum wages may also be measured in relative terms, i.e. Across Bulgaria, minimum wage levels are now BGN 650 per month, which is a 6.6% increase from minimum wage levels in 2020. Who is Affected? Benefits and allowances may not be included in minimum wage
Across Bulgaria, minimum wage levels are now BGN 650 per month, which is a 6.6% increase from minimum wage levels in 2020. Minimum Wages in Bulgaria increased to 332.34 EUR/Month in the first quarter of 2021 from 311.89 EUR/Month in the third quarter of 2020. By eliminating price differences, minimum wages ranged from 623 PPS per month in Bulgaria to 1 668 PPS in Luxembourg, meaning that the highest minimum wage was 2.7 times higher than the lowest. This table provides a summary comparision of international minimum wage rates with a calculated yearly minimum wage rate for each country in International Dollars, a measure of currency based on the United States dollar in 2009. The changes apply to all affected permit holders in 2021. The new minimum wage levels apply to EU Intra-Company Transferee
All Rights Reserved, The Bulgarian government has
Many common jobs reside within low-skilled labor, such as security guards, factory workers or shop assistants. Minimum Wages in Bulgaria averaged 140.05 EUR/Month from 1999 until 2021, reaching an all time high of 332.34 EUR/Month in the first quarter of 2021 and a record low of 31.19 EUR/Month in the first quarter of 1999. As of January 2021, Bulgaria has the lowest minimum wage among European Union countries, EU statistics agency Eurostat said on February 5. Source: Author's own elaboration based on OECD Earnings Database and Eurostat 2018 data for Bulgaria⦠Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Minimum Wages around the World (English) Minimum Wages News; Minimum Wage and Labour Law We need this to enable us to match you with other users from the same organisation, it is also part of the information that we share to our content providers ("Contributors") who contribute Content for free for your use. 2021 is set to be another eventful year for employers and employment lawyers alike, with changes to the employment landscape continuing to develop apace. Across Bulgaria, minimum wage levels are now BGN 650 per month,
New minimum wages have been announced nationwide for 2021. The disparities are significantly smaller when price level differences are eliminated. The first regroups the ten member states--all of which are located in the east of the EU--that have minimum wages below â¬700 per month. Minimum Wage and Poverty in Bulgaria. This section looks into minimum wage setting in Bulgaria and guides the reader to further material on collective wage bargaining. There are no sectoral, occupational or regional minimum wages in the country. No worker in Bulgaria should be paid less then this minimum pay rate. Bulgaria Industrial Production Drops for 10th Month, Bulgaria Producer Deflation Lowest in 10 Months, Bulgaria December Inflation Rate Lowest Since 2016, Bulgaria Retail Sales Fall at Slower Pace in September, Bulgaria Construction Output Falls Less in September, Bulgaria Consumer Morale Remains Weak in Q4, Bulgaria Tourist Arrivals Fall 67.9% YoY in August, Bulgaria Current Account Surplus Narrows in June, Oil Prices Jump on Friday, Notch Weekly Gain, US Stocks Book Weekly Gain, Nasdaq Notches Record, Colombia Industrial Output Rebounds in December, Italian Shares End the Week at Almost 1-Year High. Download historical data for 20 million indicators using your browser. Publish your articles and forecasts in our website. AICB opens the case for the abolition of the minimum wage with a discussion about the dramatic reduction in the number of workers in Bulgaria. 1999-2021 Data | 2022-2023 Forecast | Historical. This minimum wage is valid not only in Sofia, but in all countries and not is not bound just to specific sectors of ⦠In the current climate, more and more companies are facing financial distress and entering some form of insolvency proceedings. The regulation of industrial relations (and all related matters including the minimum wage) by the State is carried out in cooperation and after mandatory consultations with workers' and employers' representative organizations. Employers must compensate applicants at the market salary rate
For those 21 and older, not covered by an award or other instrument, the ⦠In 2020 the minimum wage in Bulgaria stood at 1.87 euro an hour â the lowest in the EU. More information is available at. Expressed in euros, monthly minimum wages vary widely across the EU ranging from â¬312 in Bulgaria to â¬2 142 in Luxembourg (July 2020). A recent WRC decision arising from working arrangements during the Covid crisis is very likely to be followed by more WRC decisions on the same topic over the coming months. Poverty in Bulgaria reached a prevalent rate of 7.5% in 2017. Bulgaria has a government-mandated minimum wage. Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy. Data of the European Trade Union Institute regarding the ⦠which is a 6.6% increase from minimum wage levels in 2020. Minimum-Wage.org provides a database of international minimum wage rates and labor law information for countries around the world. The monthly minimum statutory wage is set by administrative decision of the Government, after consultations with social partners within the National Council for Tripartite Cooperation. Data of the European Trade Union Institute regarding the lowest statutory remuneration in the European countries show that North Macedonia is the only country where the minimum wage is lower - at 1.63 euro an hours, in Serbia it is 2 euro an hour. Specialist advice should be sought
as proportion of the median earnings. Youâll only need to do it once, and readership information is just for authors and is never sold to third parties. At present, the minimum wage in the EU countries that have similar living standards to Bulgaria (Latvia and Romania) is approximately â¬440. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Most countries have a nation-wide minimum wage that all workers must be paid. Bulgaria's Minimum Wage is the lowest amount a worker can be legally paid for his work. about your specific circumstances. market salary rate or collective bargaining rate, Benefits and allowances cannot be
Employment Law Trends To Look Out For In 2021, High Court Finds Non-compete, Non-dealing And Non-solicitation Restrictions To Be Unlawful Restraint Of Trade, Leasehold Reform: Lease Extensions And Commonhold, Employment Update Series: Insolvency Update â A Practical Guide To Insolvency Issues Affecting Employees, WRC Decision On Remote Working Arrangements, Remote Working In Bulgaria: A Reminder Of The Main Obligations Of Employers, Employees Have A Right To Annual Leave Or Payment In Lieu Between Illegal Dismissal And Reinstatement, ECJ Rules, Back To The Workplace â 10 Things To Consider To Comply With Occupational Health & Safety, Deadlines Approaching Under The New Persons With Disabilities Act, Search & Rescue: Asset Tracing & Recovery Investigations, Competition Law and Small Island Economies: Challenges, Disadvantages and Opportunities, © Mondaq® Ltd 1994 - 2021. figure). Employers in Bulgaria who do not pay the Minimum Wage may be subject to punishment by the government of Bulgaria. Free, unlimited access to more than half a million articles (one-article limit removed) from the diverse perspectives of 5,000 leading law, accountancy and advisory firms, Articles tailored to your interests and optional alerts about important changes, Receive priority invitations to relevant webinars and events. Here, Eurostat used 2018 data. All Rights Reserved. higher. In January 2018, Bulgaria had the lowest gross minimum wage, meaning before taxes are deducted, across the EU, of 261 euro a month, statistics agency Eurostat said on February 23. Bulgaria âs minimum wage is one of the lowest in the European Union at BGN 610 per month, or $350.4 in the United States. As income levels have been low, almost 1 out of four Bulgarians left the country since the fall of the iron curtain. Wages in Bulgaria averaged 590.20 BGN/Month from 1997 until 2020, reaching an all time high of 1397 BGN/Month in September of 2020 and a record low of 30 BGN/Month in January of 1997. In 2020 the minimum wage in Bulgaria stood at 1.87 euro an hour â the lowest in the EU. Permit holders, EU nationals, and Combined Permit holders. The content of this article is intended to provide a general
Wages in Bulgaria increased to 1397 BGN/Month in September from 1335 BGN/Month in August of 2020. holders, EU nationals, and Combined Permit holders, The new minimum wages apply to
calculations. The
Monthly minimum wage Monthly minimum wage Hourly rate Exchange rate Effective per; Foo 10 10 10 October 2000 Belgium: 1,625.72 â¬1,625.72: â¬9.67 1 1 March 2020 Bulgaria: 332 â¬332 (minimum wage is fixed at an hourly rate) â¬2.07 1 1 January 2021 Croatia: 546 4,062.51 kuna: 20.84 kuna 7.45 1 January 2020 Czech Republic: 586.34 Median Salary The median salary is 3,370 BGN per month, which means that half (50%) of the population are earning less than 3,370 BGN while the other half are earning more than 3,370 BGN. Only Denmark, Italy, Cyprus, Austria, Finland and Sweden do not. Despite a rise of 10 percent in January, the current basic salary is only 286 euros per month. and new applications. Poverty in Bulgaria reached a prevalent rate of 7.5% in 2017. Many common jobs reside within low-skilled labor, such as security guards, factory workers or shop assistants. Vaccines are not currently mandatory and employers do not have a legal right to require employees to have the vaccine. Decision took account of employee's length of service prior to leaving the organisation. included in minimum wage calculations. Bulgaria âs minimum wage is one of the lowest in the European Union at BGN 610 per month, or $350.4 in the United States. minimum, the minimum wage was below this le vel (cf. current, pending, and new applications as of January 2021, Employees must be compensated at the
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