65.3% of Bulgarian Workers Earn Below Subsistence Level

According to recent data from the Confederation of Independent Trade Unions of Bulgaria (CITUB), the financial strain on Bulgarian households continues to intensify. CITUB President Plamen Dimitrov unveiled striking statistics during a press conference, sourced from the Institute for Social and Trade Union Research and Training's (ISSIO) Monitoring of Consumer Prices and Living Wage report as of March 2024.

Dimitrov highlighted that a single working individual requires a net monthly income of BGN 1,454, or BGN 1,873 gross, to sustain life. For a three-member family, comprising two working adults and a child under 14, the necessary net income escalates to BGN 2,616, with a gross income requirement of BGN 1,686 for one working person. Moreover, a single working parent in a family of three must earn a gross income of no less than BGN 3,372 to meet living expenses.

Alarming data reveals that 65.3% of workers fall short of the living wage benchmark. Despite a 14.7% increase in the average insurance income between February 2024 and February 2023, 32.1% of individuals, amounting to 820,000 Bulgarians, earn wages below BGN 1,000.

Dimitrov emphasized the persistent rise in living costs, with quarterly increases of 1.1% and annual hikes of 4.3%. In the period from March 2023 to March 2024, the cost of living surged by BGN 107 for a family of three and by BGN 60 for a single person. Notably, the National Statistical Institute reported a 3% inflation increase between March 2024 and March 2023.

Deputy director of the institute, Violeta Ivanova, provided insights into the factors influencing the living wage adjustments. Notably, a 9% annual increase in oil prices has contributed to inflationary pressure. Additionally, food prices witnessed notable...