Barely 11.7% of the Bulgarian population has a monthly income of more than 805 Bulgarian Lev according to information published by the National Statistical Institute. According to the data, the monthly earnings of just 820,000 Bulgarians are sufficient for the purchase of a new mid-grade refrigerator.
According to the statistical information, the average annual income per capita is 6,013 Bulgarian Lev translating to 501 Bulgarian Lev on a monthly basis. The amount is concerningly low, especially if there is a child or an unemployed member of the family, as in such cases the average income drops even more significantly.
To clarify the income situation in Bulgaria, the National Statistical Institute divides the population into 10 groups based on average income. The earnings of the first group are estimated to 2460 Bulgarian Lev annually or 205 Levs per month. The last group consists of people with income of above 805 Levs. As the numbers suggest, barely 8.9% of the people end up in the first group or just 5.7% of the total number of households in Bulgaria.
The population of Bulgaria is about 7 million people with 400,000 people making a living with less than 410 Levs per month. The largest portion of the population (30.3%) has a monthly income of between 280 and 430 Bulgarian Lev. Every second Bulgarian earns less than 430 Levs per month including household earnings like retirement money and social benefits.
Even the wealthiest citizens have a rather low income compared to the living standards of the European Union. The annual average income of the wealthiest portion of the population – accounting for 820,000 people, is 13,634 Bulgarian Lev or slightly over 1,130 Bulgarian Lev per month.
Another interesting fact shows that Bulgarians with the highest level of income account for the largest portion of debt money. Reason being the eased access to lending money for the purchasing of real estate properties and automobiles. Debts are also popular among the poorest part of the population primarily used to meet basic household expenses.
Translation: Ivaylo Yotov
