Poverty and Social Protection in Bulgaria
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Summary:
Absolute poverty has dropped markedly in Bulgaria but income inequality has increased substantially in the aftermath of the GFC. This increase is due to a rise in market income inequality that was compounded by a reduction in fiscal redistribution. The redistributive role of direct taxation has declined with the introduction of a flat tax and social spending is relatively low and decreasing (as a share of GDP), is concentrated on a few social risks, and experienced a decline in its redistributive efficiency. The COVID-19 crisis is likely to deepen income inequality, increasing the room for redistributive policies.
Series:
Working Paper No. 2020/147
Subject:
Fiscal redistribution Income Income distribution Income inequality National accounts Poverty
Frequency:
regular
English
Publication Date:
July 31, 2020
ISBN/ISSN:
9781513550190/1018-5941
Stock No:
WPIEA2020147
Pages:
34
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