The Chief Economist at the Institute for Market Economy Lachezar Bogdanov and the Chairman of the Management Board of the Association of Industrial Capital in Bulgaria, Vasil Velev, commented on Nova TV whether business will withstand the increase in wages in our country.
„In 2024, there won't be the wage growth we've had in the last two years because the industry is in the red. "Let's pull our heads out of the sand and see that we are at the bottom in terms of investments," Velev urged.
According to Bogdanov, the average salary in Bulgaria has doubled in the last six years, but we are still at the bottom in the EU. “There are sectors that are experiencing serious difficulties because the pressure for wage growth will continue and they cannot cope”, explained the chief economist at the Institute of Market Economy.
According to him, we are currently catching up with Western Europe in terms of wages only because the countries are in crisis.
„However, the two years of very high inflation are over and in many industries we even have deflation”, he concluded.