The speculative conservatism protects Bulgaria from crisis
The Bulgarian households are far less affected by the global financial crisis compared to better developed countries, because of the characteristic for the country conservative way of saving money.
That was the data shown in the regular report “The wealth of Bulgarian households, third quarter of 2008”, made by the Sofia-based, private and independent research company Industry Watch.
The higher sensitivity of households to the current market economy dynamics leads to the drawing out of a substantial financial resource, previously invested in the fund exchange or the local institutional investors.
According to the research, the financial wealth of the Bulgarian people ammounts to 33.5 billion leva by the thrid quarter of 2008. The growth of financial wealth slows down to 16% yearly (it was 23% in the previous quarter), but remains quicker than the inflation of consumer prices.