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Poverty and Social Protection in Bulgaria

Author

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  • Mr. Jean-Jacques Hallaert

Abstract

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.

Suggested Citation

  • Mr. Jean-Jacques Hallaert, 2020. "Poverty and Social Protection in Bulgaria," IMF Working Papers 2020/147, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2020/147
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    Citations

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    Cited by:

    1. Marta Gębska, 2021. "Implications for Economic Security of the Three Seas Initiative Countries Resulting from Membership in the International Monetary Fund," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 444-460.
    2. Stoyan Tanchev, 2021. "How the proportional income taxation increases inequality in Bulgaria," Journal of Tax Reform, Graduate School of Economics and Management, Ural Federal University, vol. 7(3), pages 244-254.

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