Bulgaria's Average Salary Rises to 24,485 Leva in 2023
In 2023, the average gross annual salary in Bulgaria reached 24,485 leva, marking a 15.3% increase compared to the previous year
According to data from the National Statistical Institute for the first quarter of the year, Bulgarians spend 75% of their income on food, household bills, taxes and insurance, transport and telecommunication, reported BNR.
The total income per capita for the quarter is BGN 1 282 (EUR 655), or 3.5% more than a year earlier.
Out of this income, 30.5% goes for food, 20.1% for household bills, 13.4% for taxes and insurance, and 11% for transportation and telecommunications.
Bulgaria is now on the path to joining the Eurozone, with January 1, 2026, being the target date for its entry
Preparations for Bulgaria’s entry into the eurozone are well underway, despite the exact timeline remaining uncertain
Bulgaria is on the verge of meeting the inflation criterion
The European Bank for Reconstruction and Development (EBRD) has significantly increased its investments in Bulgaria for 2024
Bulgaria is expected to request extraordinary convergence reports from the European Commission and the European Central Bank for eurozone entry
Bulgaria has met the inflation criterion required for entry into the Eurozone, with an average annual inflation rate of 2.6% over the last 12 months
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