Bulgaria to Raise Social Security Thresholds and Pension Payments from August

Bulgaria’s government plans to raise minimum social security thresholds by 5% starting August 1, while the maximum insurable income will increase to 2300 euros, Deputy Prime Minister and Finance Minister Galab Donev announced during a briefing outlining the ruling “Progressive Bulgaria” coalition’s upcoming budget measures. Donev said taxes will remain unchanged and confirmed that pensions will rise by 7.8% from July 1 under the so-called Swiss rule mechanism already written into the Social Security Code....