64% of Bulgarians Struggle to Cover Basic Needs

A stark economic reality confronts Bulgarians as the Institute for Social and Trade Union Studies at the CITUB reveals that a staggering 64% of the population, totaling over 1.6 million individuals, cannot meet their basic needs due to insufficient incomes. This disheartening revelation sheds light on the deepening financial challenges faced by a significant majority.

According to the institute's findings at the close of 2023, a working person living alone requires a net monthly income of €726 to cover basic needs. Similarly, a three-member family consisting of two employed individuals and a child needs €1,307 per month. These figures represent an alarming increase compared to 2022, with the president of the trade union, Plamen Dimitrov, underscoring the pressing nature of the financial struggles faced by the majority.

Dimitrov lamented that "64.3% of all working insured persons receive payments that do not reach the level of salary needed for the sustenance of one person." The plight of over 1.6 million Bulgarians grappling with inadequate incomes paints a somber picture of the economic challenges prevailing in the country.

CITUB Vice President Violeta Ivanova added another layer to the predicament, pointing out that despite lower inflation rates, there was a significant annual increase of 7.2% in the prices of basic food products. This compound effect exacerbates the financial strain on households, making it increasingly difficult for a considerable portion of the population to make ends meet.

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