Nearly 40% of Bulgarians Unable to Save, Indebtedness Rising
According to recent data from the Trend Research Center, shared during the "Personal Finance" event by Money.bg, 38% of Bulgarians are unable to set aside any savings
Fewer Bulgarians become indebted but the size of the debt is growing, announced the chairwoman of the Association of Collection Agencies in Bulgaria (AKAB) Rayna Mitkova, cited by BTA.
According to Mitkova, there is a 22% increase in the average amount of a single debt and it is now about BGN 912. A year ago, this amount was BGN 717. As a whole, however, the volume of debts delegated for collection is decreasing.
Nearly BGN 900 M in consumer portfolios were sold last year and, small firms included, the amount reaches BGN 1 B, showed data of the association.
Fewer Bulgarians become indebted but they do so for greater amounts. The experts’ explanation is the improving economic situation, revival of consumption to the levels before the crisis and the boldness of consumers in using financial products.
Most often, money is borrowed for impulsive purchases of luxury goods – mobile telephones, laptops, TV sets.
The typical debtor is a young man of up to 30 years of age with a temporary or seasonal job. There is a new tendency of people with higher education becoming indebted.
Sofia, Stara Zagora and Blagoevgrad have the largest number of debtors. Varna and Russe boast the lowest number of debtors.
At a briefing, Finance Minister Temenuzhka Petkova expressed optimism that Bulgaria is on track to meet the eurozone’s price stability criterion once again in June
Some Bulgarians are beginning to exchange their leva for euros ahead of the country’s eurozone entry, only to find that the rates offered at banks and exchange offices differ from those announced publicly
Bulgaria’s annual inflation rate climbed to 4.4% in June 2025, marking its highest point since December 2023
Deputy Finance Minister Metodi Metodiev described the recent upgrades to Bulgaria’s credit rating by three international agencies as a clear sign of growing investor confidence
The Bulgarian National Bank (BNB) will begin issuing commemorative coins in euros starting next year
The European Council's decisions from July 8, 2025, marked the final approval for Bulgaria to adopt the euro as its official currency starting January 1, 2026
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