Pandemic crisis, average yearly income lowered by 300 EUR per capita

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The COVID-19 pandemic has damaged the revenues of Albanian citizens. The Ministry of Finances stated that every citizen has lost 36,000 ALL by the crisis, or 300 EUr.

Macroeconomic data for 2022-2024 show that per capita income reached 552,000 in 2020. This number was 588,000 in 2019. This means there is a 36,000 ALL drop.

The government foresees a growth of the per capita income for 2021. By reaching 592,000, the drop marked during the past year will recover. The average income will also be higher than 2019.

The average income received a sharp dop after the quarantine months. The lockdown applied throughout the country gave a major hit to tourism and services. More than 47,000 people lost their jobs. Thousands businesses were facing hardship. Some even risked going bankrupt.

INSTAT reported that the private sector has increased the average salaries. The opposite happened with the public administration which had higher salaries this year.

The Institution of Statistics reported that the average monthly salary for the private sector was 47,486 in the third trimester of 2020. This marks a 3.6% drop compared to the second trimester.

Salary incomes are the main financial source for most Albanian families.