4/5 of Bulgarians have no savings _x000d_

05.08.2004 Source: Dnevnik

As many as 80% of Bulgarians are not putting any money into savings accounts while another 60% have no immediate plans to purchase furniture, home appliances or other durable goods, shows the quarterly consumer confidence survey of the National Statistical Institute. Half of the polled Bulgarians do not expect the financial fortunes of their family to pick up over the next 12 months. The survey found that the people worse off financially than they were a year ago are outnumbered by the informants who have maintained their financial position or even improved on it. As many as 80% of Bulgarians do not plan to buy a car over the next couple of years versus 3% who are dead set on a vehicle purchase. One in nine respondents does not anticipate the purchase or construction of a new home or a villa over the next two years. Only 2% of the Bulgarians consider such an investment possible. The survey found that 60% of Bulgarians manage to 'get by', 4% rely on their savings and one in fifth is sinking into debt. Only 7% of respondents said they have savings accounts.