The Albanian economy works only for the rich, Instat says 90% of the families got poorer in 2016

The Albanian economy works only for the rich, Instat says 90% of the families got poorer in 2016

15:48, 31/10/2017
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The Albanian economy works only for the rich, said the Institute of Statistics (Instat) in the report on the families budget for 2016.

According to INSTAT, Albania faced a growth in inequality during the last year, when the increase in consumption came from the 10 percent of the rich families, whereas the others cut their expenses.

"The average expenses for consumption of the families that make up the richer 10 percent of the society increased with 14.6 % compared to 2015. For the other 90%, the expenses increased with 0.6 %", INSTAT reported.

Last year, the prices in the market, expressed according to the official index of inflation, raised with

1.3%. That means 90% of the families have purchased 0.7% less than the previous year.

INSTAT says the average expenses of the families in total increased with 4.2%.

The families in the rich 1-% spend 158.9 thousands Lek per month, whereas the other 90% spend only 63.6 thousands Lek per month.

The data show it is exactly the rich the reason why the consumption increased last year. The government has been often accused in the recent years of favoring the rich through its policies. Concession, monopoly contracts and tax exemption for a fistful of businesses have started to give the first effects in deepening the gap of inequality.

© SYRI.net

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