Real payments has dropped since 2008

Recent official data from the World Employment Organization show that the real payment in Albania dropped with 2.1% from 2008 to 2011.

This makes Albania one of the three countries in Europe and Asia, where the living standard of working people has deteriorated.

The two other countries are Croatia and Serbia, whose real payments have dropped respectively with 0.5% and 3% during 2008-2011.

Other data show that the deterioration of payments has continued even in the years after. According to Institution of Statistics and the Bank of Albania, the real payment decreased with 8% in 2012, as compared to one year ago, due to the decrease of salaries in the private sector.

The revenues of workers have reduced deeply, although the economy didn’t fall into recession during this time.

Official data for years from 2008 to 2012 show that the Albanian economy has increased in total with 13%. This growth has gone to those who own capital, in the form of profits, rents or revenues from the interest rate.

These are only the rich, for whom the crisis seems to bring profits, while all the others have paid the cost.

The conclusion of the World Bank is that 40% of the Albanian families have not profited from the economic growth.

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