BUSINESS Wednesday, 9 October 2002 


Bulgarian Edition
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Bulgarians Twice as Poor In 7 Years

Do reduce below the line expenditures and tax rate, World Bank experts advise

The poverty rate in Bulgaria is two times higher as compared with 1995. The per capita yearly income was $1,560 in 2001, which accounts for 31 percent of the average earnings in the European Union, reads the report of the WB - "Review of Below the Line Expenditures and Institutions". WB experts presented the report before ministers, MPs, trade union leaders, economists and businessmen yesterday. Taxes and especially monthly social insurance contributions are too high. To decrease them, though, first of all budget expenditures should be cut down. To the World Bank experts, the subsidies for energy sector and BDZ (State Railways) should be also reduced.
Stephan Kioutchukov

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