BULGARIAN ECONOMY
Household income and expenditure during the third quarter of 2020
The total income average per household member during the third quarter of 2020 is 1 754 BGN and increases by 2.2% compared to the same quarter of 2019. The highest relative share of income within the total income is this from wages and salaries (55.2%). The relative share of income from pensions is 29.6% and from self-employment - 6.5%. Compare to the third quarter of 2019 the relative share of income from pensions increases by 2.4 percentage points (pp), income from wages and salaries decreases by 1.3 pp and income from self-employment and other earnings decrease by 0.2 pp.
The nominal income by source average per capita during the third quarter of 2020 compared to the third quarter of 2019 changes as follows:
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Income from wages and salaries remains unchanged - 969 BGN;
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Self-employment income decreases from 115 to 114 BGN (by 0.7%);
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Income from pensions increases from 467 BGN to 519 BGN (by 11.1%);
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Income from social benefits decreases from 51 BGN to 50 BGN (by 1.6%).
The relative share of monetary income into the total income during the third quarter of 2020 is 99.0% and the share of income in kind is 1.0%.
The total expenditure average per household member during the third quarter of 2020 is 1 570 BGN and decreases by 0.8% in comparison to the same quarter of 2019. The greatest share in forming the total expenditure has expenditure on food and non-alcoholic beverages - 30.1% as well as expenditure on housing - 17.8%, taxes and social insurance contributions - 13.6% and transport and communication - 11.3%. The relative share of food and non-alcoholic beverages remains unchanged compared to the third quarter of 2019, share of housing increases by 1.7 pp. The relative share of recreation, culture and education decreases by 2.4 pp and share of alcoholic beverages and tobacco by 0.2pp.
Source: National Statistical Institute
NEWS FROM BCCI
Representatives of the business community from Bulgaria and Russia participated in an investment webinar
Presentation of the investment climate and potential joint projects
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Meeting with the First Counselor for Economic Affairs at the Embassy of the Islamic Republic of Iran
The Chairman of the Iranian – Bulgarian Business Association Saeid Hadaei also took part in the meeting
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Good Wood training seminar in Sofia
The Bulgarian Chamber of Commerce, partner of the initiative organized the event
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FINANCE
Bulgarian Parliament: The budget deficit may exceed 3 percent of GDP in extraordinary circumstances
After the amendments to the Public Finances Act
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INTERNATIONAL COOPERATION
Bulgaria’s EU Commissioner Mariya Gabriel awarded with prestigious annual award of Vienna Economic Forum
For contribution to the economic development at regional and international level of the Forum countries
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Deputy Premier Nikolova opened Bulgarian-Turkish online business forum
Among the issues on the agenda were the possibilities for investments in tourism sector
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BULGARIAN ECONOMY
Bulgaria will start importing Azeri gas by January 1
The Greece-Bulgaria gas interconnector is one of the seven priority projects for security and competitiveness on the energy market in the European Union
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In the period July-September, the gross domestic product (GDP) decreased by 5.2% compared to the corresponding quarter of the previous year
According to the autumn forecast of the European Commission, the Bulgarian economy will return to its level from 2019 only in two years - at the end of 2022
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Household income and expenditure during the third quarter of 2020
The total income average per household member increases by 2.2%
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ANALYSIS AND PROGNOSIS
New report “Map of Industries: Head Offices in Sofia by Regions”
The document prepared by Sofia Investment Agency contains a list and data about 116 companies operating in Sofia
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PROGRAMMES & PROJECTS
The projects for “Connected Bulgaria”, part of the National Recovery and Sustainability Plan of Bulgaria has been presented to the municipalities and the IT sector