The global economic crisis continued to nibble away at Bulgaria’s household income, with the per capita average shrinking to 274.74 leva in February 2009, the lowest since March 2008.

National Statistical Institute (NSI) data showed that Bulgarians are trying to set more money aside by tightening their belts, a trend which began in October.

Bulgarians stashed away 24 leva on average in January, almost doubling to 42 leva in February. Households saved more only in December but then average per capita income was about 100 leva higher.

NSI statistics showed that in the second month Bulgarians scaled back more day-to-day expenses, spending 85 leva on food, which is seven leva less than in the first month. This made almost 37 per cent of the total household income.

Moreover, Bulgarians earmarked less money for clothes and shoes, spending 5.60 leva, or half of the average for the final months of 2008. Households trimmed expenses for alcohol, cigarettes, free time, education, transport and home renovation.

At the same time, Bulgarians paid fatter water, electricity and fuel bills, up from 35 leva a head in January to almost 40 leva in February.

Households used just 4.81 leva per capita of their savings versus thrice the amount in September.

NSI estimated that salaries accounted for the bulk of household income, making 57 per cent of the total. Pensions were Bulgarians’ second largest source of cash, representing nearly 28 per cent of the total.

Source: Dnevnik.bg