Expenses of the Bulgarian Family are Growing Faster than Income

Politics » DOMESTIC | May 19, 2019, Sunday // 10:19| Views: | Comments: 0
Bulgaria: Expenses of the Bulgarian Family are Growing Faster than Income

The expenses of the Bulgarian family are growing at a higher rate than the incomes, but the income is still more than the expenses, analysis of the National Statistical Institute (NSI) shows. According to the data, Bulgarians spend less money on food, at the expense of housing maintenance, taxes, fees and social security contributions. The main earnings are mainly from wages, according to a quarterly survey of 3,000 Bulgarian households, reports BNT. 

In the first quarter of this year, NSI reported an increase of 8% in income compared to the previous year. According to the survey, the average income per family member has risen by 110 BGN per year, and in March it was nearly 1,520 BGN.

However, there is a steady rise in expenses compared to income. Only for a year, expenses have risen by 11%, and for the first quarter of last year they have gone up 140 BGN or just over 1,400 BGN.

Bulgarians continue to spend large amount of their income on food - about 30%, despite a decline in this expenditure over the years. Household bills account for 18% of the income and for taxes and insurances the Bulgarians pay nearly 15%.

Salaries remain the main source of income for the Bulgarians, which accounts for over 57% of the total income. Pensions come second.

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