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

Bulgaria and Argentina take new steps in their trade cooperation

Bilateral relations between Bulgaria and Argentina have received a new impetus for development following the visit of an Argentine delegation from the Chaco province to Bulgaria at the beginning of November . High-ranking officials from the..

published on 11/5/24 11:49 AM

Employers want the Supreme Administrative Court to freeze the minimum wage

Employers are contesting the rise of the minimum wage. The Bulgarian Industrial Capital Association announced that they filed a complaint in the Supreme Administrative Court. About 430,000 people in the country work for minimum wage...

published on 11/5/24 11:41 AM

Jesus Caballero grabs Manager of the Year Award for 2024

If the political crisis continues, the lost benefits will reach a threshold after which the Bulgarian business will begin to lose competitiveness due to growing deficits in education, healthcare, infrastructure, regional development and demographics...

published on 11/5/24 9:54 AM