Less incomes for Albanians

Individual bank deposits increased with 300 billion ALL, a rate that slowed down only last year, to 6.2%, twice less than 2011. The tendency is visible in the second half of the year.

According to the official data, bank deposits are in stagnation with an economic growth to zero. But why are the Albanians spending less? In normal conditions, fewer savings would be translated into more consumption and investments. But INSTAT official data show that imports reached the lowest historical point last year, 8%, confirming this way the consumption reductions.

As for industrial machineries and equipments, which serve as investments, the reduction was even stronger, more than 14%. The Albanian families are facing fewer revenues which affect their saving capabilities.

Remittances from emigrants went lower for the sixth year, while the economic growth last year touched the domestic income resources, such as wages and profits from small businesses. The Ministry of Finances says that profit from businesses shrank with 16% last year, while the average payment of employed people in the private sector reduced with 8.4%.

Numbers show that the Albanian families could have entered a situation when not only they cannot save money, but they are using their revenues to finance consumption, which keeps going lower.

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