site.btaHigher Education Guarantees Lack of Poverty, Survey Shows

Higher Education Guarantees Lack of Poverty, Survey Shows

Sofia, January 26 (BTA) - Higher education practically guarantees you will not be poor, Petar Ganev, Senior Researcher at the Institute for Market Economics (IME) said. He was speaking at a Tuesday public discussion on the cross-sections of poverty and education and employment as factors influencing the curve of income and happiness in Bulgaria and presenting an IME survey with data from 2013.

The poor members of the public number 1.5 million, the "middle class" numbers 4.2 million and people with higher incomes number 1.5 million, the survey shows.

Education is the most significant factor related to poverty, the survey finds. In Ganev's words, the percentage of poverty in the case of people with higher education is below 5 per cent and their equivalent income is about 1,000 leva. The group of people with higher education at 2013 numbered about 1.2 million, including 887,000 employed and 2 per cent at poverty level.

The largest group is that of people with secondary education. High school or secondary vocational education also guarantees the finding of jobs. The percentage of employment in their case exceeds 60 per cent and poverty stands at 12-13 per cent, Ganev commented.

Poverty in the case of people with elementary education poverty amounts to 37 per cent and the chances to find employment with such education are below 50 per cent, the researchers said. The most problematic group are the people with elementary or lower education where the risk of poverty is 60 per cent. This is "like a judgment that you will not work and will be poor," Ganev commented.

In large settlements like Sofia and some of the larger regional centres the percentage of poverty is lower (about 10 per cent), while incomes are nearly 1,000 leva, the survey shows. This means that there the probability of having a job and a relatively high income is quite high. Incomes fall to about 800 leva, but nevertheless it is probable to find employment in regional centres and large cities, Ganev added.

Poverty in small settlements stands at about 33 per cent, i.e. one-third of the people in villages or small towns are poor. This is caused by much lower employment, the researcher commented.

There is a connection between income and satisfaction with life, the survey shows. The group of the poor (1.5 million) are rather miserable and rate their satisfaction with life 3 out of possible 10, while the more affluent (1.5 million) rate it at 5.5 to 6.

The Bulgarian public, regardless of whether the people are poor, rich or middle class, is profoundly convinced of a sense of lack of justice, IME said. This shows that there is a need for a comprehensive change not only in the judicial system, but also in the economic one, because rising incomes bring greater satisfaction.