Wealth Gap in Bulgaria Widest in EU - Eurostat

Business » FINANCE | March 18, 2021, Thursday // 14:14
Bulgaria: Wealth Gap in Bulgaria Widest in EU - Eurostat

Bulgaria is the first in inequalities in the European Union - the income gap between the poorest and richest in Bulgaria is over eight times. This is according to the latest Eurostat data for 2020.

CITUB economic expert Lyuboslav Kostov commented for Radio Horizont:

"If we look back in years, there were periods of  a more marked decline, there were periods of slight growth, but for Bulgaria the income gap between rich and poor was always about six or seven times. At the moment, for the second year in a row, the trend for over eight-fold difference is repeating itself and I worry that it will become something normal for our economy. On average for the European Union, the difference is about 5.2 times," the expert said.

The data also show that for the second year running our country ranks first with the widest inequality gap among EU countries, as well as according to the Gini coefficient, which is used to measure inequalities and the distribution of wealth in society.

 

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Tags: Bulgaria, eurostat, wealth gap, EU
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