If the Bulgarian economy maintains its current pace of development, it is entirely realistic for the average wage in our country to reach 2,225 euros by 2030. This forecast was made by the president of the Confederation of Independent Trade Unions in Bulgaria (CITUB), Plamen Dimitrov, reports BNR. The occasion for the statement is May 1 - International Workers' Day.
According to Plamen Dimitrov, a key factor for achieving these levels is maintaining a minimum 10% nominal annual growth in wages in the entire economy. This process should encompass not only the budgetary sphere, but also the private sector.
"This is an absolutely achievable goal if we keep going at this pace", said the leader of the Confederation of Bulgarian Trade Unions. He emphasized that systematic efforts to increase incomes are mandatory in order for Bulgaria to approach the average European levels of purchasing power.
Union estimates show that if the economic trend continues, the minimum wage in the country should reach 1,000 euros within the next four years. At the moment, the goal is for labor income per capita to reach 75-80% of the average for the European Union, compared to the current 68%.
The President of the Confederation of Bulgarian Trade Unions linked these figures to the need for convergence of gross domestic product through purchasing power parity. According to him, consistent steps in this direction will guarantee a higher standard of living for Bulgarian workers.
Despite the optimistic forecast, the Confederation of Bulgarian Trade Unions recalls that achieving these values depends on the stability of economic indicators and labor productivity. Nominal wage growth must be supported by real investments and a sustainable economic environment so that it does not become solely an inflationary factor.