Average gross monthly salary rose by 5.9% in second quarter of 2024
The average gross monthly salary during the second quarter of this year reached 75,114 ALL, marking an increase of 5.9% compared to the same quarter of last year.
The Albanian Institute of Statistics published the report on wages in the country, according to which the highest rises were noted in the financial and insurance industries as well as information and communication sectors.
Compared to the same quarter of last year, during the second quarter of 2024, the average gross salary for the financial and insurance activities group saw the largest increase of 11.4%, while the smallest increase was in the public administration and defense, mandatory social security, education, health, and social work activities group, at 3%.
Go deeper
Bank of Albania strengthens measures for non-banking institutions
Published on September 19, 2024
Why does it matter?
The recent regulatory changes by the Bank of Albania are crucial, especially following the 2023 microcredit scandal involving companies like MCA. Borrowers were deceived through hidden fees, manipulated property auctions, and excessive interest rates, causing financial distress. By tightening controls on interest rates and loan approvals, the new regulations aim to prevent such abuses and restore public trust in non-banking institutions. The focus on transparency and stronger financial assessments will protect consumers from predatory practices, ensuring a more stable and responsible lending environment, essential for Albania’s financial system.
Foreign direct investments in Albania reach €749 million in first half of 2024
Published on September 19, 2024
Why does it matter?
FDI is crucial for Albania’s long-term economic development. It injects fresh capital that helps drive infrastructure projects, supports the growth and expansion of businesses, and creates new job opportunities, boosting overall employment levels. Furthermore, a significant rise in FDI reflects increasing confidence from international investors in Albania’s economic potential, political stability, and legal framework, which can pave the way for more diversified investments and further integration into the global economy.
Government approves 4.1% pension indexation
Published on September 18, 2024
Why it matters
Despite recent wage increases for public administration and various professional categories, which have brought the average salary to 900 euros, pensions have not been adjusted for several years. Prime Minister Edi Rama has promised not only indexation but also the launch of a national discussion on increasing pensions.