Lachezar Bogdanov: The average wage in Bulgaria doubles in 5 and a half years
The average wage in Bulgaria doubled in 5 and a half years. This is what the economist Lachezar Bogdanov wrote on Фейсбук. We publish his comment without editorial interference:
“Consecutive records in wage growth:
In the first quarter of 2024, the national average wage was 16.8% higher than reported for the same quarter of 2023; in March alone, the year-on-year growth was 17.8%.
For the country, the average wage reached BGN 2,300 in March, for Sofia – BGN 3,231; if we exclude Sofia, in the rest of the country the average wage is just over BGN 1,800 per month.
The average wage has doubled in 5 and a half years (since September 2018), and in the last two and a half years it has increased by 50%.
Such growth in labour costs is only sustainable if it is accompanied by an increase in productivity, and productivity depends on innovation, entrepreneurship and investment in capital; companies and industries where productivity is growing will soon be driven out of the market. ”
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