Financial Strain: Over 70% of Bulgarians Face Daily Expense Challenges

Society | December 5, 2023, Tuesday // 15:01
Bulgaria: Financial Strain: Over 70% of Bulgarians Face Daily Expense Challenges @Pixabay

A study conducted by the National Statistical Institute reveals concerning financial trends among Bulgarian households in the third quarter of 2023. Despite a slight rise in income for 31.7% of people, around 65% reported unchanged incomes over the past year, marking a decrease from the previous quarter.

The study highlights that a significant portion, approximately 70.1%, struggle to cover their daily expenses. Within this group, 36.6% face certain difficulties, while 21.9% find it challenging, and 11.6% describe it as very difficult. Although some individuals (22.7%) can manage their daily expenses relatively easily, 7.2% encounter no financial hurdles, a slight decrease from the previous quarter.

Interestingly, more individuals (55.7%) claim they can handle unexpected expenses up to BGN 500, such as urgent home or car repairs, compared to the previous quarter. Conversely, there's a decrease in the proportion (44.3%) facing difficulty in meeting unexpected expenses.

These statistics underscore a prevalent financial strain experienced by a significant majority of Bulgarians, posing ongoing challenges in meeting everyday expenses.

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Tags: Bulgarian, financial, Daily expenses

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