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Poverty and Social Protection in Bulgaria
Author:
Mr. Jean-Jacques Hallaert
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https://orcid.org/0000-0002-0009-1622
Series:
IMF Working Papers
Volume/Issue:
Volume 2020: Issue 147
Language:
English
Publication Date:
31 Jul 2020
DOI:
https://doi.org/10.5089/9781513550190.001
ISBN:
9781513550190
ISSN:
1018-5941
Pages:
34
Keywords:
WP; share ratio; EU average; EU spending; inequality in Bulgaria; test level; cash income; Income inequality; Income; Income distribution; Fiscal redistribution; Europe; Eastern Europe; Inequality; Poverty; Social Protection; Bulgaria; European Union
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2020: Issue 147