Podcast in English
Text size
Bulgarian National Radio © 2024 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

Sunshine, rising daytime temperatures expected on Monday

On Monday the weather will be mostly sunny, in the afternoon there will be scattered high clouds. Almost quiet weather is expected. Minimum temperatures will be mainly between minus 3°C and 2°C, slightly lower in the valleys of western Bulgaria, in..

published on 11/24/24 6:15 PM
Rumen Radev in Vietnam

President Radev meets with Vietnamese citizens who studied and worked in Bulgaria during his Vietnam visit

Rumen Radev's visit to Vietnam began with a meeting with the community of Vietnamese citizens who have studied and worked in Bulgaria - representatives of the Vietnam-Bulgaria Friendship Association. Hundreds of Vietnamese citizens are members of the..

published on 11/24/24 5:00 PM
MP Nadezhda Yordanova from PP-DB

PP-DB MP Yordanova: There is no agreement with GERB for a governing majority and posts

The deputy from "We Continue the Change - Democratic Bulgaria" Nadezhda Yordanova has denied the information that an agreement was reached with GERB - SDS for the formation of a governing majority , on the basis of which Atanas Atanasov from the..

published on 11/24/24 4:01 PM