Bulgarians spent 4B leva during Festive Season

Written by on January 8, 2013 in Bulgaria, Business, News - No comments
euro notes in a shopping trolley

Bulgarians spent four billion leva during the 2012 Festive Season and the period immediately before, the country’s National Revenue Agency (NRA) said on January 8. Comparative figures for previous years were not available because this was the first year that the agency compiled such data.

Predictably, hypermarkets and food stores, household appliance retailers and entertainment equipment chains showed the highest increase in their revenues, ranging between double and triple the average monthly turnover during the rest of the year.

The peak of Bulgarians’ spending fell between December 19 and December 23, the height of the gift-shopping season.

Bulgarians took more consumer loans to pay for their holiday sprees, up 15 per cent compared to 2011, according to preliminary data from companies specialised in providing on-the-spot consumer loans, broadcaster bTV reported. Traditionally this also means an increase in the number of loan applications to banks in January, including consumer loans and overdraft loans.

Restaurants too counted on a solid month in January because of several big name days – Vassilyovden on January 1, Yordanovden on January 6, Ivanovden on January 7 and Atanasovden on January 18, among them. In total, three in 10 Bulgarians are expected to celebrate their name day in January, bTV said.

(Photo: Vera Reis/sxc.hu)

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