Bulgarians remain pessimistic about their financial situation over the next 12 months, a survey of the National Statistical Institute conducted in July 2020 reads.

Although attitudes on economic development in this country are better than those reported in April, Bulgarians living in towns and villages are pessimistic about their family budgets, the analysis shows. Respondents show moderate expectations for price increase of basic consumer goods in the period. They even point out that there has been a decrease in the price of some goods in recent months.

The survey conducted by NSI also shows that in July this year the total consumer confidence index increased by 3.3% as compared to April 2020. The total consumer confidence indicator among the urban population rose 2.7% and CCI among residents of Bulgarian villages increased by 4.5%.

Meanwhile, at the end of June 2020, bank deposits of business and households increased by 9% year on year to nearly EUR 42 billion, data of the Bulgarian National Bank show. At the end of the second quarter of 2020, bank savings of Bulgarian households amounted to nearly EUR 30 billion, which is 7.8% more as compared to the same period last year. At the end of June bank deposits of Bulgarian companies increased by 12% year on year and exceeded EUR 13 billion. 

Statistics of BNB also shows that at the end of July this year a total of 3,945 companies hold EUR 500,000 or more in bank deposits. Their number increased with 16% as compared to the same month last year. Meanwhile, Bulgarian households and businesses owe the financial institutions over EUR 30 billion, or 4.9% more as compared to the same period in 2019.

At the end of the second trimester of 2020, bank loans borrowed by the companies amounted to EUR 17,792 billion, or 2.9% more as compared to the same period of last year. Households owe nearly EUR 12 billion to the banks, which was nearly 10% more as compared to June 2019. In June 2020 a total of 127 Bulgarians owed the banks EUR 500,000 or more, whereas in June last year 175 Bulgarians had bank loans to the tune of EUR 500,000 or more. Meanwhile, 5,123 companies owe EUR 500,000 or more to banks, which is 0.3% less as compared to the end of June 2019.

Compiled by: Krasimir Martinov

English version: Kostadin Atanasov