Money Buzz! Europa

Tag: expenses

  • Average income per household member increases by 12.7% in Bulgaria

    Average income per household member increases by 12.7% in Bulgaria

    The total income average per household member during the first quarter of 2020 is 1.712 BGN and increases by 12.7% compared to the same quarter of 2019, show National statistical institute latest data.

    The highest relative share of income within the total income is this from wages and salaries (58.5%). The relative share of income from pensions is 27.7%, from self-employment – 5.6%.

    The relative share of income from wages and salaries increases by 0.9 percentage points (pp) and from social benefits increases by 0.5 pp compared to the first quarter of 2019.

    The income from self-employment decreases by 0.8 pp and the income from pensions decreases by 0.2 pp.

    The nominal income by source average per capita during the first quarter of 2020 compared to the same quarter of 2019 changes as follows:

    • Income from wages and salaries increases from 874 BGN to 1.002 BGN (by 14.6%);
    • Income from pensions increases from 424 BGN to 473 BGN (by 11.6%);
    • Self-employment income is without change – 96 BGN;
    • Income from social benefits increases from 35 BGN to 50 BGN (by 42.2%).

    The total expenditure average per household member is 1.486 BGN

    The total expenditure average per household member during the first quarter of 2020 is 1.486 BGN and increases by 5.9% in comparison to the same quarter of 2019.

    The greatest share in forming the total expenditure has expenditure on food and non-alcoholic beverages – 31.0% as well as expenditure on housing – 17.4%, taxes and social insurance contributions – 14.7% and transport and communication – 11.6%.

    The expenditure by group average per capita changes as absolute values during the first quarter of 2020 compared to the same quarter of 2019 as follows:

    • Expenditure on food and non-alcoholic beverages increases from 423 BGN to 461 BGN (by 9.0%);
    • Expenditure on alcoholic beverages and tobacco increases from 59 BGN to 65 BGN (by 11.6%);
    • Expenditure on clothing and footwear decreases from 42 BGN to 35 BGN (by 17.3%);
    • Expenditure on housing (water, electricity, heating, furnishing and maintenance of the house) increases from 255 BGN to 258 BGN (by 1.3%);
    • Expenditure on health increases from 84 BGN to 102 BGN (by 20.7%);
    • Expenditure on transport and communication increases from 170 BGN to 172 BGN (by 1.0%);
    • Expenditure on recreation, culture and education decreases from 49 BGN to 47 BGN (by 5.2%);
    • Expenditure on taxes and social insurance contributions increases from 196 BGN to 219 BGN (by 11.8%).
  • One in three people in EU unable to face unexpected financial expenses

    One in three people in EU unable to face unexpected financial expenses

    • In the European Union (EU), almost one in three people were unable to face unexpected financial expenses (32%) in 2019.
    • These people were not able to face unexpected financial expenses such as costs for surgery, a funeral, a replacement of washing machine or a car in 2019.

    Since its peak in 2012 (40%), the ability to handle unexpected expenses has improved markedly. Due to lockdown implemented across the world in 2020 to slow down the rapid spread of the coronavirus, the ability to face unexpected financial expenses is crucial, especially in case of loss of income.  

    The highest shares of people unable to face unexpected financial expenses was reported among single person households: 40% of single persons were unable to face unexpected financial expenses, and in particular 56% of single persons with children. Higher shares were recorded for single females (43%) than for single males (36%).

    In contrast, the lowest shares were recorded in households with two adults: 25% were unable to face unexpected financial expenses; 28% of two adult households with one dependent child and 26% of those with two dependent children.

    Among all household types, the proportion of people unable to face unexpected financial expenses was lowest for two adults, of whom at least one is 65 or over (24%).

    Inability to face unexpected financial expenses highest in Croatia, lowest in Malta

    Among the EU Member States, the share of people unable to face unexpected financial expenses was highest in Croatia (52%), followed by Latvia (50%), Greece and Cyprus (both 48%), Lithuania (47%) and Romania (44%).

    Fewer than one in four people were unable to face unexpected financial expenses in Denmark (23%), Czechia and the Netherlands (both 22%), Luxembourg, Austria and Sweden (all 20%, 2018 data) as well as Malta (15%).