Bulgarians Struggle with Shrinking Average Incomes
The income of an average Bulgarian household member has been a mere BGN 868 (about EUR 447) in the first quarter of 2011, which indicates a 2.1% decrease year on year, according to the country's National Statistical Institute.
In the same time, the average expenditure per household member during the quarter has been BGN 775, 1.4% more than during the same period in 2010.
The relative share of monetary income in the total income during the first quarter of 2011 has been similar in comparison with the same quarter of 2010 - 99.1%. The relative share of wages and salaries within the total income of Bulgaria's citizens has increased from 51.1% to 52.9% on an yearly basis, the Institute's report also reveals.
The most significant share of the total expenditure per household member in Bulgaria in the first quarter of 2011 has been spent on food and non-alcoholic beverages. The average expenditure on water, electricity, heating and furnishing for the compared quarters has decreased from BGN 147 to BGN 140 per capita
The average expenditure on on health has decreased by 7.8% during the year's first quarter, while the expenditure on clothing and footwear has dropped by 6.3%
- » Bank Deposits Of Bulgarian Households Keep Growing in March
- » Funds Contracted Under EU Exceed 40%
- » International Monetary Fund Increases Expectaions on Bulgarian Economy
- » BNB Reports Current Account Surplus
- » Household Incomes Grows Faster Than Expenses
- » Unemployment Rate Down by 1.9% Over One Year
Yeah Boyko and government, this is what happens when you are out of time, continue to dig in the past and stick with the “losers”!
Let me clarify: twenty something years ago when people like me were telling you scrap the communism it’s not working and it’s wrong, you (or at least 99% of the Bulgarians) were chanting slogans for your “master” then the Soviet Union ('КПСС-БКП, дружба вечна и нерушима!')!!!
Today apparently again totally outdated when the West is in astonishing debt, crisis and stagnation you finally realized your previous mistake and decided to “embrace” America and the EU, focus your trade on them, make them your main trading partner and make them your new “master”. SORRY but you are out of luck again!!!
Well there you go, that’s why you’ve got this terrible economy and incomes!
Here some fresh info on your potential partners:
FOCUS ON THE EMERGING MARKETS, ASIA AND THE B.R.I.C. COUNTRIES!!!
This is the new world and future growth!!! Get in time with the trend!
Be your own master!