Podcast in English
Text size
Bulgarian National Radio © 2023 All Rights Reserved

The average Bulgarian is not impoverished, industrialist Vasil Velev claims

Vasil Velev
Photo: BGNES

The average Bulgarian has not become poorer in 2022, Vasil Velev, Chairman of the Industrial Capital Association in Bulgaria, told BNR, quoting statistics. He explained that for some workers there is a higher wage growth, while for others the statistics do not show any growth at all. This also affects consumption. "The average Bulgarian has not become poorer despite inflation, unlike the average European, because on average in Europe incomes lag behind inflation," Velev says.
"Bulgaria's GDP for 2022 has grown by 3.4%, this is slightly more than expected. We have the highest export growth in the whole EU for 2022 - 38%. We also have wage growth outpacing inflation. For the last quarter in the private sector, average wage growth was 17.7% with inflation below 16%," Velev said.

Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Eurostat: Bulgaria ranks second in the EU in house price growth

House prices in the European Union increased by 0.3% in the second quarter , compared to the first quarter of 2023. In Bulgaria over the same period, house prices rose by 4.3% compared to the first quarter, European statistics agency Eurostat, published..

published on 10/3/23 4:22 PM

What Bulgaria stands to gain (or lose) by entering the Eurozone

Accession to Schengen and the Eurozone, membership of the Organisation for Economic Cooperation and Development – these are some of the top priorities of Bulgarian diplomacy. The target date for the introduction of the single European currency is set..

updated on 10/3/23 12:52 PM

Budget deficit reaches 0.4% of GDP

At the end of September, the budget deficit was 380 million euro, the Ministry of Finance reported. This is 0.4% of the projected Gross Domestic Product. By the end of the year, the deficit is expected to reach the planned 2.5% of GDP...

published on 10/3/23 9:18 AM