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Sat, Feb 11 2012
Bulgaria records highest labour cost increase in EU
Photo: Georgi Kozhouharov
Bulgaria recorded the highest annual increase in labour costs among the 27 member states of the European Union, the bloc’s statistical office Eurostat said in a report on labour costs in the fourth quarter of 2009.
According to Eurostat, hourly labour costs in the euro area rose by 2.2 per cent in the year up to the fourth quarter of 2009, compared with three per cent for the previous quarter.
In the EU27, the annual rise was 2.4 per cent up to the fourth quarter of 2009, compared with 2.9 per cent for the previous quarter.
The two main components of labour costs are wages and salaries and non-wage costs.
In the euro area, wages and salaries per hour worked grew by two per cent in the year up to the fourth quarter of 2009, and the non-wage component by 2.7 per cent, compared with 2.8 per cent and 3.5 per cent,.respectively, for the third quarter of 2009.
In the EU27, hourly wages & salaries rose by 2.2 per cent and the non-wage component by three per cent in the year up to the fourth quarter of 2009, compared with 2.8 per cent and 3.5 per cent, respectively, for the previous quarter.
The breakdown by economic activity shows that in the euro area, hourly labour costs rose by 1.4 per cent in industry, 3.7 per cent in construction and 2.4 per cent in services in the year up to the fourth quarter of 2009.
In the EU27, labour costs per hour grew by 1.9 per cent in industry, 3.1 per cent in construction and 2.5 per cent in services.
Among the EU member states for which data are available for the fourth quarter of 2009, the highest annual decreases in hourly labour costs were, according to Eurostat, in Lithuania (-10.8 per cent), Estonia (-5.8 per cent), Latvia (-5.6 per cent) and Slovenia (-3.6 per cent).
The highest annual increases were registered in Bulgaria (+11.3 per cent), Austria (+6.5 per cent), Poland (+5.7 per cent), the Czech Republic (+5.4 per cent) and Romania (+5.2 per cent).
Not mentioned in the Eurostat report, which dealt solely with the question of increases or decreases in labour costs, was that EU-wide surveys consistently show that salaries in Bulgaria are among the lowest, if not the lowest, in the EU.
According to Eurostat, hourly labour costs in the euro area rose by 2.2 per cent in the year up to the fourth quarter of 2009, compared with three per cent for the previous quarter.
In the EU27, the annual rise was 2.4 per cent up to the fourth quarter of 2009, compared with 2.9 per cent for the previous quarter.
The two main components of labour costs are wages and salaries and non-wage costs.
In the euro area, wages and salaries per hour worked grew by two per cent in the year up to the fourth quarter of 2009, and the non-wage component by 2.7 per cent, compared with 2.8 per cent and 3.5 per cent,.respectively, for the third quarter of 2009.
In the EU27, hourly wages & salaries rose by 2.2 per cent and the non-wage component by three per cent in the year up to the fourth quarter of 2009, compared with 2.8 per cent and 3.5 per cent, respectively, for the previous quarter.
The breakdown by economic activity shows that in the euro area, hourly labour costs rose by 1.4 per cent in industry, 3.7 per cent in construction and 2.4 per cent in services in the year up to the fourth quarter of 2009.
In the EU27, labour costs per hour grew by 1.9 per cent in industry, 3.1 per cent in construction and 2.5 per cent in services.
Among the EU member states for which data are available for the fourth quarter of 2009, the highest annual decreases in hourly labour costs were, according to Eurostat, in Lithuania (-10.8 per cent), Estonia (-5.8 per cent), Latvia (-5.6 per cent) and Slovenia (-3.6 per cent).
The highest annual increases were registered in Bulgaria (+11.3 per cent), Austria (+6.5 per cent), Poland (+5.7 per cent), the Czech Republic (+5.4 per cent) and Romania (+5.2 per cent).
Not mentioned in the Eurostat report, which dealt solely with the question of increases or decreases in labour costs, was that EU-wide surveys consistently show that salaries in Bulgaria are among the lowest, if not the lowest, in the EU.
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Lyubov Kostova was appointed country manager of British Council Bulgaria effective January 1, replacing Tony Buckby, who left in October 2011 to take a similar position at British Council Greece. Kostova has been with British Council Bulgaria for 11 years, as public communications manager and, since 2008, as the head of project and partnerships department. Prior to joining the British Council, Kostova was head of international activities at the National Academy for Theatre and Cinema Arts (NATFIZ). She has a degree in Indian studies from Kliment Ohridski Sofia University.
CEZ
Stefan Apostolov is the new chief executive of CEZ Razpredelenie Bulgaria, the power transmission subsidiary of Czech energy company CEZ in the country. He replaces interim chief executive Ales Damm, who remains the chairperson of the CEZ Razpredelenie management board. Apostolov has 30 years of experience in the energy sector, joining CEZ in 2007 as director of customer service and was later appointed as head of business development. Apostolov has a master's degree in electric systems from the Belorussian National Technical University in Minsc, management diplomas from Open University London and New Bulgarian University, as well as a master's degree in business administration from Plovdiv University.
BASF Bulgaria
Valentina Dikanska is the new general manager of chemical industry giant BASF subsidiary in Bulgaria, taking over from Herbert Fisch, BASF vice president for Southeastern Europe. Dikanska, who started her career as an expert in the Finance Ministry, joined BASF Bulgaria as director of finance and administration in 2002. She becomes the first Bulgarian to hold the top management position in the company in its 40-year history on the Bulgarian market. Dikanska holds a master's degree in economics from the University for National and World Economy in Sofia.
Rompetrol Bulgaria
Alexander Albin has been appointed chief executive of fuel distributor Rompetrol Bulgaria, replacing Nichita Sorin, who left to become chief executive of Rompetrol Gaz in Romania. Albin was previously chief executive of Rompetrol Georgia. He has more than 15 years of experience in the oil and gas industry; prior to joining Romania's oil group Rompetrol in 2008 as an adviser, he oversaw operations at Atyrau refinery in Kazakhstan, owned by Rompetrol's parent company KazMunaiGaz. He previously held top management positions at two other leading Kazakh oil and gas companies.
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Dianne if the UK is so great what the "F" are you doing here?
Everybody in BG expects everything for free, they rather drink their money than get some insurance that will never pay when you need them.
Difficult to understand who is being better paid as most workers work for cash especially in the construction and restauration industries. Anyway good luck to those who are lucky enough to profit and hard luck for the rising numbers of unpaid unemployed
The cost of wages in BG should rise whats the point of working for the lowest wage in the euro zone. Yes living costs will rise but so will the benefits that are enjoyed by people in England and Germany. The people of Bulgaria should pay for a health service then they would be better treated.Nothing comes free so stop moaning Dianne.
Well done to Bulgaria if this keeps up the UK will get its companys back also jobs.Then we can all work on a leval playing field with a good standard of living for all. I think that this is fantastic news.
Good for the workers, bad for the economy. As we have already read this week where government workers are now having to pay their own National Insurance as there is not enough money, but they have all had a pay rise. Then, when the cost of manufacturing surpasses the cost of importing from the East, manufacturing industry here will decline rapidly. They estimate 60% unemployment in Northern Bulgaria this year, but hey, the lucky ones in Jobs will get more pay. Look at the UK in the last 10 years where the cost to manufacture has forced Thousands of companies [...]
Read the full comment to move production East, only this morning the days of the black taxi numbered. Look at Cadbury's, Dyson, Colgate, MG, British Steel, British Coal etc etc. The higher wages people demand is a short term gain for the worker and a long term loss for the country.