Text size

More than 1/5 of Bulgarians live below the poverty line

published on 4/26/24 1:37 PM

Photo: pixabay

The poverty threshold in Bulgaria was BGN 637.92 (EUR 323) per person per month in 2023. This is an increase of 21.3 per cent compared with the previous year, when the indicator was BGN 525.92 (EUR 266), the National Statistical Institute said.

In 2023, 1.3259 million Bulgarians, or 20.6 per cent of the country's population, were below the poverty line. In 2022, it was 1.572 million Bulgarians, or 22.9 per cent of the total population.

The main factor that increases the risk of falling into the poorest group for the majority of the population is their economic activity and participation in the labour market.

56.8 per cent of the poor are unemployed. The working poor represent 11.7% of the country's labour force. More than 2/3 of them are people with no school education. Part-time workers are three times more at risk of poverty than full-time workers.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria Economy 2023 national statistical institute ppoverty line

More from category

Experts about Bulgaria’s financial policy as the country edges towards a new parliament and a draft budget for 2025

After the election for parliament on 27 October, the caretaker government has to submit a draft of a budget for 2025 to parliament by the end of the month. Some economic analysts say the budget of the country for 2024 is the worst in the past decade. Holes..

updated on 10/23/24 12:52 PM

IMF predicts 2.8 per cent inflation in Bulgaria in 2024

Bulgaria's economy will grow by 2.3 per cent this year. This is according to the latest World Economic Outlook prepared by the International Monetary Fund and presented today in Washington. This is down from the Fund's April estimate, which predicted that..

published on 10/22/24 6:44 PM

Bulgaria's public debt for 2023 was 22.9% of GDP

In 2023, the government budget deficit was 2% of GDP or €1.9 billion. This is indicated by the final data of the National Statistical Institute. This is a significant narrowing of the budget deficit compared to the previous 3 years...

published on 10/22/24 1:23 PM