The average wage in Albania increased by 2.4% compared to the previous year

The average salary in economy in the third quarter of last year was about 50 thousand ALL. According to the Institute of Statistics, which refers to the administrative data from the General Directorate of Taxes, the average wage decreased slightly by about 400 ALL a month compared to the second quarter. However, on an annual basis, the average wage in the economy grew by about 2.4%. In monetary terms, one employee was paid about 1200 ALL more compared to the previous year.

These data show that wage growth is still sluggish, especially stripped of the inflation effect. In real terms, the average wage in the third quarter increased by only 0.2%. However, statistics relying on administrative data always have a margin of inaccuracy associated with informality. Informal payments have decreased in recent years, but they remain present, especially for the highest salaries, where the cost of the declaration is greater.

This is one of the reasons why the average salary is higher in the public sector. According to Institute of Statistics, the average salary is about 60,500 ALL per month, 20% higher than the average salary for the entire economy. Wage growth is one of the main drivers of rising production costs and inflationary pressures in the economy. The Bank of Albania in the latest monetary policy report estimates that these pressures are increasing.

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