Bulgarian household income grows at rate slightly higher than spending, statistical institute says

Written by on February 15, 2013 in Bulgaria, Business, News - No comments

Bulgarian household income per head was 16.1 per cent higher in the fourth quarter of 2012 than in Q4 2011, while spending per head was 13.4 per cent higher, according to figures released by the National Statistical Institute (NSI) on February 15 2013.

Those percentages, however, are less impressive when looking at the sums involved. Average income per household member in Bulgaria in Q4 2012 was 1157 leva (about 578 euro) while spending was 1058 leva.

Previously, the NSI said that the average salary in Bulgaria was 754 leva a month. In turn, this figure should be considered against the background that increased unemployment among people in lower wage brackets has pushed up statistical renditions of average salaries.

According to the NSI February 15 statement, in the fourth quarter of 2012, wages and salaries continued to be the main source of household income.

The relative share of household income from wages and salaries is 52.2 per cent within the total income, the NSI said.

During the fourth quarter of 2012, this income is 604 leva average per capita, or 18.9 per cent more than in the same quarter of the previous year.

The relative share of wages and salaries within the total income increased by 1.2 percentage points (pp) during Q4 2012, according to the NSI.

The second important source of household income is pensions, the NSI said.

The relative share of pensions within total income decreased by 3.9 percentage points, to 25.1 per cent. During the fourth quarter of 2012, the sum was 290 leva average per capita, the same as in Q4 2011.

Income from entrepreneurship increased during the fourth quarter of 2012 compared to the same period of 2011, by 6.1 per cent, 86 leva per capita, according to the NSI statistics.

The NSI said that total expenditure per household member during the fourth quarter of 2012 was 1058 leva, an increase of 13.4 per cent in relation to the same quarter of 2011.

Of Q4 2012 household spending, the largest share – about 52.3 per cent – was on energy, fuel, water, counted under food and housing expenditure.

According to the NSI, the most significant part in the household budget was spending on food and non-alcoholic beverages. This increased by 11.1 per cent, to 370 leva average per household member in Q4 2012, a very slight decrease from Q4 2011.

Spending on health was slightly down, by 1.9 per cent, to 53 leva a head during Q4 2012. This made up five per cent of total spending, the NSI said.

Spending on transport and communications was up by 16.6 per cent to 109 leva average per capita, while spending on alcohol and tobacco was up by 14.3 per cent, to 48 leva average per capita in Q4 2012.

(Photo: Clive Leviev-Sawyer)

Comments

comments

About the Author

The Sofia Globe - Bulgaria’s fully independent English-language news and features website, run by an all-expatriate team. Sign up to subscribe to sofiaglobe.com's daily bulletin by using the form on the homepage of our website. Please click to support our advertisers!