ONE IN TEN BULGARIANS IS AT RISK OF POVERTY

In 2013, 21% of the Bulgarian population are described as being at risk of poverty and one in ten Bulgarians is described as being at risk of deep poverty. These are the results of an analysis conducted by the Bulgarian Institute for Market Economics (IME) on the topic “Poverty and Risk Groups”.

Poor education and unemployment are the main reasons for impoverishment of the people, while for minority groups life in a ghetto is yet another reason, commented Petar Ganev, a senior economist at IME. Families with two poorly educated adults and at least three children, who live in regions with high rate of unemployment are at the highest risk of poverty.

The lowest poverty line, known as deep poverty, is described for people whose income is 40%t of the median income per household member. According to data of the Bulgarian National Statistical Institute, the median income for 2013 is approximately 3,000 GBN per year, i.e. 250 BGN per month. This means that nearly 700,000 individuals in Bulgaria live on less than 100 BGN per month.

According to the IME analysis, 1,5 million people are described as poor, i.e. living on 60% of the median income, i.e. on 150 BGN per month

Individuals who live below the poverty line lag behind in terms of income in comparison with the middle class and are least influenced by the changes in the economic environment. The unemployed and inactive people are among the highest risk groups, which are dependent on the quality of education and the labour market processes. In practice, one in two unemployed people is at risk of poverty, and one in three is at risk of deep poverty.

The relative share of people in deep poverty has increased gradually from 8,5% in 2008-2009 to about 10% in 2012-2013.

Some 7-8% of the people with jobs are also at risk of poverty. These are approximately 210, 000 people who work at minimum wage and short hours.

According to the analysis, about 440,000 pensioners live on less than 150 BGN per month and 100,000 live on less than 100 BGN per month.

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