The minimum wage will amount to BGN 933 from January 1, 2024. The decision was made officially at today’s meeting of the Council of Ministers.
Its amount will increase by 19.6%, or by BGN 153 compared to its current value. It was determined according to the provisions of the Labor Code, according to which the minimum wage for the country for the next calendar year is set at the rate of 50 percent of the average gross wage for the last two quarters of the previous year and the first two quarters of the current year.
The proposed new minimum wage will contribute to reducing in-work poverty and inequalities in income distribution. The growth of the minimum wage will increase the purchasing power and consumption of the lowest income groups of the labor market and increase the motivation of the labor force to enter employment.
From January 1, 2024, the minimum hourly wage will be BGN 5.58.
