Higher fuel prices have eroded the purchasing power of 74% of Bulgarians

Around three-quarters of Bulgarian citizens say that rising prices for natural gas, electricity, fuel and other energy resources over the past 12 months have significantly reduced their purchasing power. The figure for Bulgaria stands at 74%, compared with an average of 60% across the European Union, according to the findings of the eighth edition of the European Investment Bank’s Climate Survey.

For 23% of Bulgarians, the impact on their purchasing power has been very severe. This is slightly above the EU average of 20%, placing Bulgaria among the countries with the highest figures on this measure as well.

To cope with rising prices, 50% of Bulgarian respondents have cut their everyday spending on food or healthcare. Another 26% have reduced their heating expenditure, while 20% have taken on debt, sought financial assistance or delayed paying their energy bills.

According to the survey, 69% of Bulgarians believe that the energy transition is urgently needed. As its most anticipated benefits, 77% cite lower energy prices, 74% reduced dependence on imports of oil and natural gas, and 66% a slowdown in climate change.

Edited by Diana Tsankova