Wage index increased, consumption decreased during 2015

 Tirana, November 23, 2015

A latest report issued by Bank of Albania shows that the wage index has increased during the second quarter of this year by 7.6%, compared to the same period of a year before. The report shows that this index has increased continually during the first semiannual of the year particularly during the first quarter of 2015 by 9.4%. Bank of Albania’s report is an analysis of official data received by the Institute of Statistics and show that although the economy is in a fragile situation, private enterprises are spending more to increase the wages of their employees.

Despite the increase of wages, the consumption rate has decrease, says the report, since in the first quarters of this year the amount of consumption performed negatively. Experts explain this with the tendency of Albanians to save money rather than increase spending.

Speaking of the country’s economy in general terms, the report says that the economic system remains liquid and well capitalized. Country’s economy has been affected positively by the repayment of outstanding debts by the government to businesses, according to the report.

News source/photo credits: Scan TV