Bulgaria's Economic Shift: Salaries Surpassing Inflation

Business » FINANCE | June 14, 2024, Friday // 08:00
Bulgaria: Bulgaria's Economic Shift: Salaries Surpassing Inflation @novinite.com

Georgi Angelov, senior economist at "Open Society", shared insights on Bulgaria's battle against the demographic crisis in an interview with NOVA NEWS.

In his latest research titled "Salaries Reversed the Demographic Catastrophe," Angelov delves into Bulgaria's demographic landscape. He highlighted the stark contrast from two to three decades ago when economic turmoil and low wages triggered a decline in birth rates and spurred emigration.

"Nowadays, wages are seeing a notable improvement, even surpassing inflation," Angelov noted, emphasizing a recent quarter's data that indicates a catch-up from the past two years.

Angelov pointed out that various factors contribute to this shift. He mentioned that while social infrastructure hasn't seen significant enhancements, the labor shortage compels businesses to increase wages.

"This year, a tangible rise in purchasing power is anticipated, which is also expected to bolster demographic trends," he added.

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Tags: Bulgaria, demographic, salaries, inflation

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