Bulgarians' welfare has improved significantly in the last ten years, with net assets nearly tripling between 2011 and 2021 to reach EUR 11,410 per capita, a report by Allianz Trade shows. At the same time, the gap between the poor and the rich in Bulgaria is growing, with the share of the middle class' assets dropping by over 2% during the period in question. Though their share remains relatively high, 40%, the decrease signifies a crack in the model of equal distribution of wealth.
The report assesses nearly 60 countries around the world. In terms of net assets per capita, Bulgaria ranks 36th out of 57 countries. In the Allianz Wealth Equity Indicator ranking, Bulgaria lost over 10 positions, similarly to the trend in other countries from the former socialist block, the analysts note.
According to them, despite the appreciation of real estate in Bulgaria, incomes here make it easier to acquire a home compared to most countries in the EU and Latin America.
Allianz Trade warns that due to the war in Ukraine and the impact of COVID-19, which caused serious inflation, problems in the energy sector and food supply, and changes in fiscal policies, 2022 will hit hard the assets of households around the globe. An average loss of one-tenth of their wealth is expected, coupled with an alarming upward trend in household debts.
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