site.btaReport: Gap between Richest, Poorest Regions to Grow

Sofia, July 24 (BTA) - The gap between the richest and the poorest regions in Bulgaria will continue to grow, suggests an analysis of incomes in Bulgaria carried out by the Institute for Market Economics and the Bulgarian Geoinformation Company.

According to the analysis, the largest portion of incomes in the Bulgarian economy are generated in the capital Sofia.

Between 2001 and 2016 the average annual income per household member grew by 240 leva annually or 20 leva monthly, reaching 5,167 leva. This means that a considerable portion of the incomes of Bulgarian households in some regions comes from wages, followed by pensions and social benefits. Incomes from pensions can't keep up with wages growth. This is observed in regions with aging population and undeveloped labour market such as Vidin and Kyustendil.

In 2016, Sofia had the highest incomes at 7,349 leva per person annually, whereas Vidin, Kurdzhali, Sliven, Silistra and Turgovishte had the lowest at under 4,000 leva. The gap between the highest and the lowest average annual income grew from 1.8 times in 2000 to 2.1 times in 2016. It peaked in 2013 at 2.5 times.