MPs adopted Social Security Budget act at first reading

The MPs from the Social and Budget Committees in the Parliament on November 5 adopted at first reading the law on the state social security budget. The opposition left-wing Bulgarian Socialist Party and the Movement for Rights and Freedoms voted against the texts.

The draft of the new budget law was presented by Deputy Minister of Labour and Social Policy, Zornitsa Rusinova.

Next year, a record transfer of BGN 6.2 billion to the social security budget is planned due to lack of funds. Budget revenues next year are expected to increase by BGN 744 million and exceed BGN 8 billion. At the same time, expenditures will increase by BGN 1.38 billion.

The main reason for the large shortage of funds in the budget is the increase in pensions, Rusinova explained. Thus, from January 1, the minimum pension will be increased from BGN 250 to BGN 300, and the maximum from BGN 1,200 to BGN 1,440.

Unemployment benefit will be at least BGN 12 per day next year. The maximum insurance income is maintained.

"There is a lack of clarity about what will happen to private pension funds and what their relations with the state are. Please pay attention to this. Besides, maternity benefits are frozen at BGN 380 per month," commented Vanya Grigorova from Podkrepa trade union.

"We will support the budget because it is designed to help people on the lowest incomes survive until the vaccine comes out and the situation stabilises," said United Patriots MP Kalin Popovski.

I define the budget of the Social Security as reckless, because the government distributes money as if it’s the last time and on the principle “After me, it may flood”, said Georgi Gyokov of the BSP. He pointed out that the next budget does not protect the most vulnerable groups in society, such as pensioners, mothers and the unemployed.

"The insurance burden is increasing and the misery remains. We will submit our proposals between the two readings of the law," Gyokov added.