Text size

The average Bulgarian is not impoverished, industrialist Vasil Velev claims

published on 3/12/23 4:44 PM

Vasil Velev

Photo: BGNES

The average Bulgarian has not become poorer in 2022, Vasil Velev, Chairman of the Industrial Capital Association in Bulgaria, told BNR, quoting statistics. He explained that for some workers there is a higher wage growth, while for others the statistics do not show any growth at all. This also affects consumption. "The average Bulgarian has not become poorer despite inflation, unlike the average European, because on average in Europe incomes lag behind inflation," Velev says.

"Bulgaria's GDP for 2022 has grown by 3.4%, this is slightly more than expected. We have the highest export growth in the whole EU for 2022 - 38%. We also have wage growth outpacing inflation. For the last quarter in the private sector, average wage growth was 17.7% with inflation below 16%," Velev said.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria Economy Industrial Capital Association poverty Vasil Velev

More from category

International Technical Fair 2025 kicks off in Plovdiv

Plovdiv is hosting the 79th International Technical Fair from September 24 to 27, 2025 , bringing together leading companies, innovators, and industry professionals. The Forum highlights technological advancement and sustainable development across key..

published on 9/24/25 8:55 AM

Fabian Bornhorst, head of the IMF mission in Bulgaria (R), and Svetlomira Porova, journalist at Capital Daily.

IMF: Bulgaria must strengthen fiscal discipline

Bulgaria has the opportunity to reap the full benefits of eurozone membership , but this will require stronger fiscal discipline, effective management of transition risks, and accelerated structural reforms , the International Monetary Fund (IMF)..

published on 9/23/25 5:16 PM

Bulgaria's wine sector sees poor grape harvest amidst growing investment interest

In mid-September, the traditionally great Christian feast of the Holy Cross (September 14) marks the beginning of one of the most anticipated agricultural processes – the grape harvest campaign. 2025 is no exception, but due to a number of factors, the..

published on 9/18/25 1:10 PM