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Incomes overtake expenses in the capital

In 2023, households in the Sofia region spent BGN 8,878 on average per person, which is 12.7 percent more than in 2022

Aug 30, 2024 15:23 138

Incomes overtake expenses in the capital  - 1

In 2023, the annual total income on average per person from a household in the Sofia region is BGN 10,246 and increases by 13.2 percent compared to 2022. For the last ten years (2014 – 2023), the total income on average per person from a household in the district increased 2.7 times, the National Statistical Institute announced on its website.

During the period 2014 – In 2023, the following more important changes were registered in the Sofia region with regard to the sources of the total income on average per household person: the salary income in the Sofia region in 2023 was BGN 5,464 and increased by 17.2 percent compared to 2022 and almost 3 times compared to 2014; income from pensions in the last year is BGN 4187. They grow by 6.5 percent compared to 2022 and almost 3 times compared to 2014; income from self-employment in 2023 is BGN 349, BTA reports. Compared to 2022, they increased by 44.2 percent, and compared to 2014, they increased 1.7 times; in the structure of the total income in the Sofia region, the highest relative share is the salary. In 2023, it is 53.3 percent, which is 1.8 percentage points more than in 2022 and 2.9 percentage points more than in 2014.

Expenses

In 2023, households in the Sofia region spent an average of BGN 8,878 per person, which is 12.7 percent more than in 2022. For the period 2014 - 2023, household expenses increased 2.6 times.

The relative share of consumer spending in total household spending decreased from 82.8 percent in 2014 to 82.3 percent in 2023.

During the period 2014 - 2023, the following changes were observed in the Sofia region in relation to some types of expenses on average per person in the household: the funds spent on food and non-alcoholic beverages in the Sofia region in 2023 were BGN 3,598, or with 33.7 percent more compared to 2022 and 2.4 times compared to 2014; the expenses for clothing and shoes in 2023 are BGN 402. Compared to the previous year, they increased 2.5 times, and compared to 2014 - more than 6 times; the expenses related to the home (water, electricity, fuel, home furnishings and home maintenance) for the last year are BGN 1,093. They decrease by 9.7 percent compared to 2022 and increase twice compared to 2014; BGN 517 were spent on healthcare in 2023 - 27.7 percent more than in 2022 and 3.4 times more than in 2014; BGN 809 was spent on transport and communications in 2023, which is 16 percent less than in 2022 and 2.8 times more than in 2014; spending on free time, cultural recreation and education in 2023 is BGN 92. Compared to 2022, there is no change in their size, and compared to 2014, they increase 1.1 times; in the last year, the expenses for taxes and social insurance amounted to BGN 1,230 and increased by 17.1 percent compared to 2022, and compared to 2014, they increased 3 times.

In 2023, the relative share of food expenditure from the total expenditure in the Sofia region is 40.5 percent, which is 6.3 percentage points more compared to 2022 and 2.7 percentage points more slightly compared to 2014.

The relative share of housing-related expenses in 2023 is 12.3 percent of the total expenditure and decreases compared to 2022 by 3.1 percentage points and compared to 2014 - by 3.6 percent point.

The share of tax and social security expenditure is 13.9 percent of total expenditure in 2023, which is 0.6 percentage points higher than in 2022, and the increase compared to 2014 is 2 ,1 percentage points.

In 2023, the share of transport and communications expenditure was 9.1 percent of total expenditure, which was 3.1 percentage points less than in 2022 and 0.7 percentage points more than 2014 year.

Consumption

In 2023, the consumption of most basic food products on average per person from a household in the Sofia region increased compared to 2022. The biggest increase was in the consumption of eggs - by 16 pcs., of meat - by 11.3 kg, of fresh milk - by 10 liters and of vegetables - by 10 kilograms. It reduces the consumption of bread and pasta products - by 2.9 kg, of oil - by 2.3 l, of potatoes - by 2.2 kg and of meat products - by 1.8 kilograms. On an annual basis, the average consumption per person of a household of alcoholic beverages decreased from 46.8 to 44.9 liters, and the consumption of cigarettes increased from 1,519 to 1,666 units.