At a meeting held today (10 November 2021), the Board of Management of BIA approved the Position of BIA on basic principles related to the determination of the minimum wage for the country and basic expectations to the state budget of the Republic of Bulgaria for 2022.
The Board expresses its concern over the prolonged lack of a stable parliamentary majority to elect a regular government. Bulgaria is facing the challenges of a series of crises - health, economic, and now energy. Going through these crises requires a long-term vision and a clear political commitment. The Board maintains its previously held positions during the last 10 and more years regarding the basic principles related to determining the minimum wage in the country. BIA once again draws the attention of the political entities to enter the next parliament to the need to adopt a mechanism, criteria and transparent methodology for setting the minimum wage, agree on a medium-term budget forecast and suspend the administrative determination of additional payments to private remuneration sector outside those defined in the Labor Code and collective bargaining.
Regarding the budget of the Republic of Bulgaria for 2022, the Management Board of BIA expects:
- adequate economic and fiscal policies related to the management of inflation processes;
- providing for adequate short-term business support measures to compensate for the increased electricity prices;
- providing for measures to support employment with a scope corresponding to the extended Temporary Framework for State Aid of the EC (after its official extension - at this stage until June 2022);
- stimulating gross private domestic investment (corporate investment) in order to accelerate the transformation of the economy and its capital modernization (eg: easing of tax depreciation rates, subsidies, etc.);
- measures encouraging companies to invest in the so-called green and digital transition, complementing the NPV, with an emphasis on the circular economy, decarbonization of the economy and removal of administrative and regulatory barriers.
At today’s meeting the Board also accepted as members of BIA two associations and three companies in the field of education, consulting, realization of investment projects and buildings, tourism and business development research.
The next meeting of the Management Board of BIA is scheduled for 15 December 2021.
