The Ministry of Finance projects a minimum wage of 660 euros for 2027

The minimum wage in Bulgaria could reach 660 euros in 2027. This is the projected amount set by the Ministry of Finance (MF) in the guidelines for preparing the 2027 Budget and the medium-term budget forecast through 2029.

For now, the amount is a budget forecast, not a final figure for the minimum wage. For the next two years, the Ministry of Finance projects that it will continue to rise – to 680 euros in 2028 and 710 euros in 2029.

The maximum social security income is also expected to rise. It is projected to reach 2,400 euros in 2027, €2,500 in 2028, and €2,600 in 2029. By comparison, as of August of this year, the ceiling stands at €2,300.

These figures come at a time when the government is preparing an entirely new method for setting the minimum wage. As Economic.bg reported, the Ministry of Social Affairs’ proposal calls for the current automatic formula – under which the minimum wage is set at 50% of the average gross wage – to be phased out starting in 2027, and for more social and economic indicators to be taken into account, including purchasing power, wage levels and growth, and labor productivity.

Until the new mechanism is adopted, the minimum wage will remain at its current level of 620.20 euros. The change is significant for a large portion of the labor market – according to the assessment accompanying the bill, approximately 450,000 people in Bulgaria earn the minimum wage.

Translated with DeepL.