Nearly 24% of Bulgarians live below poverty line
In 2020, the poverty line for Bulgaria as a whole was BGN 452 (EUR 231) on average per household member a month. 1,659,900 people or 23.8% of the population were below the poverty line, reported public radio BNR, citing data by the National Statistical Institute (NSI).
Compared to the previous year, the relative share of poor population rose by 1.2%.
However, the social protection system is essential for reducing poverty. Data for 2020 show, that when household incomes included those from pensions but excluded other social transfers (benefits, social and family benefits, etc.), the poverty rate rose from 23.8% to 29.9%, or by 6.1%.
The relative share of the poor is highest among the unemployed (61.1% in 2020). The share of the poor among the employed aged 18 to 64 increased compared to the previous year by 0.7% to 9.7%. Among the working poor, the share of those with higher education is the lowest, 2.4%.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.