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The average salary in the region reaches 800-900 euros per month, almost twice the salary in Albania

2023-01-23 07:49:06Biznes SHKRUAR NGA REDAKSIA VOX

The average salary in the region reaches 800-900 euros per month, almost twice

In the last three years, salaries in the countries of the region have grown at a much faster rate than in Albania, deepening the difference between the income received by an employee in Serbia, North Macedonia, Montenegro and Bosnia and Herzegovina, compared to an Albanian. .

The average gross salary for these countries fluctuates between 800-900 euros per month, from about 520 euros which is the average in Albania, or on average about 40% higher than here.

Monitor has processed the official data of the statistical institutes of Albania, Serbia, Montenegro, North Macedonia, and Bosnia and Herzegovina for average monthly gross salaries, which are available until September 2022. While Kosovo, the last data available end of 2021.

This salary has been compared in nominal value (not indexed to inflation) with the third quarter of 2019, before the start of the pandemic.

Montenegro has the second highest average salary in the region, at 885 euros per month at the end of the third quarter of 2022, although the gap with other countries has narrowed, due to slower growth (by about 14% from September 2019), according to the Statistics Office of Montenegro.

Serbia is the country in the region that has increased wages the most during this period, by 39%, bringing them to 880 euros at the end of September 2022, according to the Statistics Office of the Republic of Serbia.

In North Macedonia, an employee is paid an average of almost 780 euros, or 29% more than in September 2019, reports the Statistics Office of North Macedonia.

A high salary increase was also noted in Bosnia and Herzegovina, reaching 893 euros, the highest in the region, with a 24% expansion from the third quarter of 2019, according to the Statistics Agency of Bosnia and Herzegovina.

In Albania, the average salary of an employee was 522 euros in September 2022, from 440 three years ago, with an increase of about 19%, according to INSTAT. (see the chart: Average gross monthly salary in the region - euro).

The Statistics Agency of Kosovo has reported the data until the end of 2021, with the average salary being 484 euros, making it together with Albania the two countries that pay their employees the least.

How little did salaries in Albania increase in three years?

Albania is the second with the lowest increase in percentage of salaries, after Montenegro for the period September 2019-September 2022. But, because Montenegro has high salaries, in nominal value the salaries of Albanian employees have seen the greatest expansion low.

After three years, an Albanian employee receives 83 euros more. The employees of Serbia are the ones who have had the highest benefit, as they receive 248 euros more. In North Macedonia, the salary has increased by 178 euros, in Bosnia by 173 euros and in Montenegro by 100 euros. (see the chart: Salary changes in the region T III 2022/T III 2019).

Although Albania is one of the countries that passed the pandemic more easily and has relatively high economic growth compared to its neighbors, this is not translating into the well-being of its citizens, indicating an unstable development with low added value. Other Eurostat data recently showed that Albanian families and individuals have the lowest disposable income in the region, including young people.

Even for consumption and income per capita, we are still last in Europe.

This situation is encouraging a mass exodus, especially of young people, creating numerous problems in the labor market, while dictating the increase in wages in the country.

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