Over 75% of Households in Bulgaria have Difficulty covering their Daily Expenses
In the third quarter of 2022, household income for 67.3% of individuals remained unchanged compared to the previous 12 months, according to the latest survey by the National Statistics Institute. This share decreased by more than 5 percentage points compared to the previous two quarters, but is still significant, NSI notes.
At the same time, the share of people experiencing difficulties to cover their daily expenses remains relatively high - over 75%
An increase in their household income was indicated by 27.9% of respondents, which is 8.7 percentage points more compared to the second quarter and 9.4 percentage points more compared to the first quarter of 2022, when an increase of 18.5% of individuals had income.
The main reasons for the increase in income in all three quarters are the increase in pensions and social benefits and wage indexation.
At the same time, a decrease in income for the last 12 months was indicated by 4.8% of the respondents, which is 2.9 percentage points less compared to the second quarter and 3.7 percentage points less compared to the first three months in 2022.
As in the previous two quarters, in the third quarter of 2022, the share of people experiencing difficulties in covering their daily expenses remained relatively high - over 75%. 38.5% of individuals have certain difficulties, 28.3% of them define covering daily expenses as difficult, and 10.8% - as very difficult.
Compared to the previous quarters, the share of people who have a very difficult time is decreasing, at the expense of an increase in people who experience certain difficulties in covering their daily expenses, according to the latest NSI survey.
Relatively easily, 18.1% of individuals can cover their daily expenses in the third quarter, and only 4.3% do not experience any difficulties. In total, the share of persons without difficulties in the third quarter increased by 0.9 percentage points compared to the second quarter and by 0.7 percentage points compared to the first quarter of 2022.
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