Bulgaria Last in EU in Salaries, Work Productivity

Society | May 1, 2014, Thursday // 14:30
Bulgaria: Bulgaria Last in EU in Salaries, Work Productivity File photo.

Bulgarians earn nearly EUR 4 per hour, nearly ten times less than what Swedes and Danes get at work, Eurostat data has shown.

The country lags behind its northern neighbor Romania, where medium hourly wages are a little over EUR 4, according to the statistics cited by Dariknews.bg.

In terms of productivity at work, Bulgaria is again coupled with Romania, as both countries have shown the worst results in Europe.

Norway, Luxembourg and Belgium have ranked first in work efficiency.

Earlier on Thursday Nikolay Nikov, an economist, said for the TV channel Bulgaria on Air that the income of Bulgarians "must drastically increase", even if that is to happen "at the expense of worsening macro-economic indicators".

Nikov explained that developed countries do not strictly keep to the macro-economic framework and set their eyes on reducing unemployment level as a main priority.

He added that lack of help for small and medium enterprise, as well as lack of markets, are the main challenges ahead of Bulgaria's business.

Indrustrialization, though not a "planned" and "centralized" one, could also be of help in Nikov's view.

While being described as the EU's poorest country, Bulgaria boasts with low levels of public debt and small current-account deficits.

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Tags: work, wages, productivity, income, macro-economic
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