site.btaBulgarians' Incomes, Expenditures Fall in Q4 of 2023, Q/Q

The growth curve of expenditures and incomes of Bulgarians is slowing down, as in the fourth quarter of 2023 it flattened on an annual basis, the National Statistical Institute (NSI) said on Friday. People earned and spent less compared to the quarter before. In the third quarter of the same year, income growth outpaced that of expenditure.

The total income average per household member during the fourth quarter of 2023 was BGN 2,866 which marked an 18.1% increase compared to the same quarter of 2022. The total expenditure average per household member was BGN 2,668 and also increased by 18.1% compared to the same quarter of the previous year.

The highest relative share of income within the total income came from wages and salaries (54.9%). The relative share of income from pensions was 31.3% and from self-employment - 5.9%. The greatest share in the formation of the total expenditure was expenditure on food and non-alcoholic beverages - 29.9%, as well as expenditure on housing - 16.1%, taxes and social insurance contributions - 13.1% and transport and communication - 11.5%.

A check in the NSI website shows that in the third quarter of 2023, the income per person in the household was BGN 2,874 and increased by 22.5% compared to the same quarter of 2022. Expenditure was BGN 2,714 and increased by 21.2% on the same period the previous year.