Bulgaria Approaches 62% of Average European Income

Recent figures from Eurostat, cited by the Institute for Market Economy, highlight Bulgaria's progression to 62% of the average European income and standard of living. This updated data for 2022 reflects a 12% growth over the past five years, signaling a positive trend for the country's economic standing.

Eurostat's recent report emphasized Bulgaria's economy reaching 62% of the EU's GDP per capita in terms of purchasing power. This indicator showcases Bulgaria's strides in closing the gap in income and living standards compared to the EU average, considering price variations across nations.

Economists at the Institute of Market Economy note this achievement as a potential historical peak for the country. Despite past crises and political uncertainties, Bulgaria has steadily caught up with European countries, averaging over 2% annual growth in recent years.

Comparative analyses highlight Bulgaria's 13% growth compared to Romania, and 10% growth compared to Lithuania and Poland. Analysts stress the importance of leveraging these gains as a springboard for continued growth through the coming decade, urging against stagnation.

The data underscores Bulgaria's progress but emphasizes the need for sustained efforts to build upon this momentum for future economic growth.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!