Bulgaria: CNSB calls for wage increases in 2027 budget

Plamen Dimitrov, President of the Confederation of Independent Trade Unions (CNSB), stated that the 2027 budget must reflect wage growth that at least covers inflation and rising costs of goods and services. Speaking on NOVA, Dimitrov emphasized that public expectations involve income increases that keep pace with the rising prices of goods and services, rather than just focusing on the minimum wage amount.

During an extraordinary meeting of the National Council for Tripartite Cooperation, discussions covered tax changes, the minimum wage, and social security thresholds. While the CNSB supports certain tax reforms, Dimitrov opposed a proposed 7% tax on food vouchers, arguing that these funds are specifically designated for food. He also advocated for increasing minimum and maximum social security thresholds to ensure higher insurance payments.

Regarding the minimum wage calculation, the CNSB accepts the new formula but disagrees with its proposed application for 2027. Due to missed deadlines for the formula's preparation, the union suggests maintaining the current mechanism for the 2027 period. Additionally, Dimitrov rejected arguments from the central bank against a one-time tax on bank excess profits, suggesting banks have sufficient resources to expand lending without such a tax increasing loan costs.