65.3% of Bulgarian Workers Earn Below Subsistence Level
According to recent data from the Confederation of Independent Trade Unions of Bulgaria (CITUB), the financial strain on Bulgarian households continues to intensify
At the end of March 2019, the deposits of the non-government sector amounted to BGN 79.096 billion, the Bulgarian National Bank (BNB) reported. This is 68.4% of the Gross Domestic Product (GDP) for 2019, which the BNB expects to be 115.646 billion levs.
Deposits of non-financial enterprises amounted to BGN 23.365 billion (20.2% of GDP) at the end of March 2019. Compared to the same month of 2018, they increased by 7.8%. Deposits of financial corporations increased by 26.8% on an annual basis in March to BGN 3.363 billion (2.9% of GDP).
Deposits of households and non-profit organizations serving households amounted to BGN 52.368 billion (45.35% of GDP) at the end of March 2019. They increased by 8.9% compared to the same month of 2018.
At the end of March 2019 loans to the non-government sector amounted to BGN 58.062 billion (50.2% of GDP) and increased by 7.8% on an annual basis. Loans to non-financial corporations increased by 5.3% on an annual basis in March 2019 and amounted to BGN 33.117 billion (28.6% of GDP) at the end of the month. Household loans and non-profit organizations serving households amounted to BGN 22.168 billion (19.2% of GDP) at the end of March 2019. They increased by 11% in the same month in 2018, according to the BNB.
At the end of March 2019, housing loans amounted to BGN 10.763 billion and increased on an annual basis by 11.5%. Consumer loans amounted to BGN 9.334 billion and increased by 17.9% compared to March 2018. On an annual basis, other loans decreased by 33.2% to BGN 741.5 million.
The loans granted to financial corporations amounted to BGN 2.777 billion (2.4% of GDP) at the end of March 2019. They increased by 14.7% compared to March 2018, according to BNB data.
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