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Bulgaria Breaks Barriers: Average Salary Crosses BGN 2,000 Milestone
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For the first time in Bulgaria's economic history, the National Statistical Institute (NSI) has reported that the average gross monthly salary has crossed the BGN 2,000 mark (roughly 1000 Euros). September 2023 recorded an average gross monthly salary of BGN 2,072, marking a significant increase compared to July (BGN 1,973) and August (BGN 1,957) of the same year.
In the broader context of the third quarter of 2023, the NSI indicates an overall average monthly salary of BGN 2,000, reflecting a 2.2% increase from the second quarter. The notable sectors contributing to this growth include "Government" (13.4% increase), "Education" (12.2% increase), and "Agriculture, forestry, and fisheries" (7.5% increase).
However, despite positive trends in average salaries, the employed population saw a decrease of 34.1 thousand individuals (1.5%) by the end of September 2023 compared to the end of June 2023. Sectors experiencing the most substantial decrease in employment include the "Hotel and restaurant industry" (15.8% decrease), "Administrative and auxiliary activities" (2.7% decrease), and "Manufacturing industry" (1.4% decrease).
Conversely, the sector of "Human health care and social work" witnessed a 1.1% increase in the number of persons employed under labor and service legal relations.
Comparing employment figures to the previous year, there is a 1.0% increase in the number of employed persons under labor and service legal relationships by the end of September 2023. Notable increases occurred in "Human health care and social work" (10.4%), "Hospitality and catering" (7.2%), and "Creation and distribution of information and creative products; telecommunications" (3.4%). Conversely, "Manufacturing industry" (-6.7%) and "Mining industry" (-2.1%) experienced the most significant declines.
These statistics offer a nuanced perspective on Bulgaria's economic landscape, where the achievement of an average salary exceeding BGN 2,000 signals positive growth, but challenges in specific sectors require attention for a more comprehensive understanding of the country's economic dynamics.
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