Bulgarians Have BGN 138 B in Total Wealth - Study

According to a study of Industry Watch, every Bulgarian has an average wealth of EUR 8 000. File photo

The total wealth of Bulgarians is estimated at BGN 138 B, an analysis prepared by Industry Watch shows.

The analysis was presented in Sofia over the weekend in the frame of a seminar on financial stability.

According to the study, every Bulgarian has a wealth of EUR 8 000 on average. From the total wealth, homes are BGN 97 B while the remaining BGN 41 B are financial wealth – of them BGN 29 B are in savings.

Bulgarians are the poorest among other EU Member States, but ahead of Russia, Macedonia, Serbia, Albania, Byelorussia and Bosnia.

The measurement of the wealth of Bulgarians includes bank deposits and cash, investments in retirement and mutual funds, in insurance products, shares and real estate property.

According to the study, Bulgarians tend to save more in times of crisis over job uncertainty.

There are also observed trends of higher interest rates on deposits, shrinking demand and postponement of major purchases such as appliances, electronics, furniture or a home.

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