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Albanian wage index increases, consumption falls in second quarter

Xinhua, November 27, 2015 Adjust font size:

Albania's wage index increased by 7.6 percent during the second quarter of this year compared to the same period last year, the Bank of Albania said Thursday.

Although the country's economy is in a fragile situation, private enterprises are spending more to increase the wages of their employees, reported Albanian Daily News, quoting a report of the Bank of Albania which analyzed official data received by the Institute of Statistics.

While the wages are increasing, the consumption rate has been decreasing, said the report. Experts attributed this to the tendency of Albanians to save money rather than increasing spending.

Speaking of the country's economy in general terms, the report said the country's economic system remained liquid and well capitalized.

According to the report, producers of services, accounting for 86.3 percent of all enterprises, realized 66.7 percent of turnover, while producers of goods, accounting for 13.7 percent of all enterprises, realized 33.3 percent of turnover. Endi