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Bulgaria spends more as incomes increase

Domestic demand picked up early this year as Bulgaria joined the EU and a large number of European investment companies got unobstructed access to the local market. On another note, the incomes of the population have picked up by 18 per cent since the start of the year, another reason for growing consumption.

The National Statistics Institute, Bulgaria’s statistical authority sent shockwaves in mid-September announcing a 3.1% inflation rise month-on-month and 12% rise in the 12 months. Year-to-date, inflation came in at 7.5 per cent, surpassing Government expectations for full-year inflation of 4.4 per cent and placing Bulgaria at the top of the inflation chart in the European Union.

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