News

Font size: A A A

Wealth of Bulgarian households is 16 billion Euros

Thursday, Jul 31, 2008

The financial wealth of Bulgarian households is 32 billion Levs (around 16,4 billion Euros), which represents 55% of the gross domestic product of the country.
This was announced by Krasen Iotov from "Industry Watch", Bgnes news agency reported. According to him, the annual increase of Bulgarians' wealth is 23% compared to the same period last year.
Financial assets of Bulgarians, excluding credits and mortgages, are 22 billion Levs. Bulgarian citizens hold large part of their savings in cash, deposits, personal savings accounts and shares. Last year, households were aimed towards low risk assets - deposits and cash money. From real assets, the largest is the part of homes (immovable property). Their price went up for 32% from July 2008, "Industry Watch" reported.
Thus, the total value of homes in cities, regional centers in Bulgaria, is 73 billion Euros. According to the research data, the growth of credits for households is 50%, and at the same time the housing apartments are 40%.
According to the data of social surveys agency "Skala", 57 % of the Bulgarian citizens have no savings. 71% of them declare they have income from working abroad in the last three years.

Source: Bnr.bg