The IMF Insists: Accelerate the Raise of Wages in Bulgaria
Bulgaria should work for a more rapid increase in income. This is one of the conclusions of the Executive Board of the IMF.
Fund experts underline that incomes in Bulgaria are still half the EU average.
They predict that the worsened demographic situation of our country can lead to serious risks to the entire fiscal system in the medium and long term.
According to them, in the long run, a slowdown in the economy, which has already exhausted its growth potential, is expected, says “24 hours”.
The three factors – low income, slow growth in the economy, and unfavorable demographic trends can put pressure on the budget.
To mitigate these expected effects by the IMF, they recommend more investment in healthcare and education that could also improve the labor market situation.
Further efforts are needed in the area of justice and the fight against corruption, the Fund further recommends.
Bulgaria has also received recommendations about raising revenues from Brussels. Finance Minister Vladislav Goranov has already announced that he intends, by raising the minimum wage, to push up income.