Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

Social inequality in Bulgaria is growing

Photo: pixabay

In 2020, 70,000 Bulgarians, or 1% of the population, owned 18.3% of the gross domestic product, which is equal to more than EUR 11.25 billion. In 2005, they owned 11.2% of the GDP, or EUR 2.4 billion. The wealth of the richest Bulgarians rose five times in the space of 15 years. In 2005, the richest 10% of the population owned 34.6% of the GDP, whereas in 2020, they owned 43.6%.

In 2020, 50% of the poorest Bulgarians owned 19.6% of the country’s GDP. Fifteen years later, they owned only 16.4% of the GDP. The concentration of financial resource in fewer people hampers economic growth and undermines competition, Lyuboslav Kostov, Director of the Institute for Social and Trade Union Research said for “24 Chassa” newspaper.




Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Japanese business delegation visits Sofia

At a meeting with the ambassador of Japan to Bulgaria Hisashi Michigami, Bulgarian President Rumen Radev welcomed the interest by the Japanese side in the investment and trade potential of Bulgaria. The meeting was attended by proprietors and..

published on 10/9/24 9:21 AM

Low taxes do not solve the state's budgetary problems: CITUB

Bulgaria is going to the sixth early parliamentary elections in less than 4 years, and this hinders the constructive debate and the ratification of an important convention prepared by the International Labor Organization (ILO) and accepted by 44 countries..

published on 10/7/24 2:30 PM

Construction of the Hemus Motorway has been going on for half a century

On October 4, 1974, the construction of the Hemus Motorway from Sofia to Varna started. Back then, the chairman of the State Council and leader of the Bulgarian Communist Party, Todor Zhivkov, turned the first sod for the country's..

published on 10/4/24 1:29 PM