Bulgaria Has a 60% Increase in High Earners

A written response by the Bulgarian Minister of Finance, Vladislav Goranov, to the member of parliament from the Bulgarian Socialist Party Lalo Kirilov revealed the trend of Bulgarian income.

There is a reported 60% increase for the last 5 years in those that receive an annual income of more than 60,000 leva (5,000 a month) - 70,267 taxpayers now earn between 31,000 to 60,000 leva, which would mean they get around 2600-5000 leva a month.

And now let's compare that to the 1.1 million that get between 250 to 600 leva a month. Those numbers do not include anyone relying on social programs, welfare, those on maternity leave, or the unemployed, as their income isn’t taxed by the National Revenue Agency.

The aforementioned upper category includes everyone above 60,000 leva yearly income, from programmers, entertainers, to millionaire executes and businessmen. The largest increase in the analyzed groups was that of the people who earned more than 5,000 leva monthly- 61%.) Those that earn between 1000-2000 leva also had a large increase by 50% for the period 2012-2016. The numbers were released by Capital.bg in their article on the subject.

While Bulgaria has seen above inflation wage growth, high skill careers in highly globalized industries like IT have had far faster wage growth than the wider labour market - due to high demand and low supply. This trend generally persists across Eastern Europe, where programmers can earn a large multiple of the local average wage. The huge demand has been created by foreign companies setting up shop in order to use local programmers, often to build applications for Western clients, which is often quite high value in comparison to the typical labour outsourced in lower level industries.

Alex Dimchev

Alex Dimchev is a writer, editor, and weapons master for EUscoop.com

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