Bulgaria’s government plans to raise minimum social security thresholds by 5% starting August 1, while the maximum insurable income will increase to 2300 euros, Deputy Prime Minister and Finance Minister Galab Donev announced during a briefing outlining the ruling “Progressive Bulgaria” coalition’s upcoming budget measures.
Donev said taxes will remain unchanged and confirmed that pensions will rise by 7.8% from July 1 under the so-called Swiss rule mechanism already written into the Social Security Code. He also stressed that all social payments are guaranteed.
The proposed increase in the maximum social security income represents an increase of nearly 9% compared to the current level of 2111.64 euros. The measure still requires parliamentary approval, although the ruling coalition currently holds enough votes to pass it. Previous attempts to raise the ceiling, however, have triggered opposition from business sectors and professional organizations.
At the same time, the government plans to abolish the automatic salary increases tied to senior state positions, including ministers, deputy ministers, members of regulatory authorities, the judiciary, law enforcement structures, and universities.
