site.btaNSSI Reports Higher Public Social Insurance Expenditures Y/Y

The National Social Security Institute reported here on Tuesday that as of July 31, 2023 the total amount of reported revenues in public social insurance is BGN 6,352 million, which is BGN 811.1 million more than in the same period of 2022. The total reported expenditure amounted to BGN 12,047.3 million, which is BGN 2,292.2 million more compared to the first seven months of 2022.

In the structure of total expenditures, the largest share is accounted for by pension expenditures, which amount to BGN 10.713.2 million. The pension expenditure is BGN 2,376.7 million or 28.5% more compared to the same period last year.

There were 4,547 fewer pensioners in July 2023 compared to a year earlier. The average monthly amount of pension per pensioner in the seventh month of the year was BGN 825.44, which is higher by BGN 90.72 (12.3%) than in the previous month of June and BGN 148.81 (22.0%) higher than the average amount for the same month of 2022.

The next largest group of expenditures in the consolidated budget for public social insurance is the expenditures for payment of cash benefits and allowances under the Social Insurance Code. As of July 31, they amounted to BGN 1,242.5 million. The reported expenditures are BGN 55.4 million more compared to the same period of 2022, according to the release.