Albania and Kosovo are the poorest countries in Europe. The international Monetary Fund comes to this conclusion, as it compares it to the capital income for each individual and consumption across the continent.
Albania and Kosovo are the poorest countries in Europe, based on the capital income for each individual, measured by calculating purchasing power. The ranking appears in the latest report of the International Monetary Fund.
The data appearing in the Global Economic Review 2023 show that Albania ranks penultimate in Europe with an income of 19,000 international dollars per person, and Kosovo appears last, with 15,600 dollars. Bosnia and Herzegovina have a slightly higher income per person than Albania, at 19.6 thousand international dollars, North Macedonia 21.1 thousand, Serbia with 25.4 and Montenegro continues to be at the top of the region, with 27.6 thousand dollars.
The European average is almost 50,000, while Albania’s income per person, measured according to purchasing power, is almost half of what it is in Eastern Europe.
While in Gross Domestic Product, which for Albania has reached 7 thousand dollars per person, which means it is still the last together with Kosovo, which is at the level of 5,600 dollars.
The Albanian government has approved the decision to increase salaries by 50% within two years, a policy that can increase welfare and promote competition in the region for income levels.
It will be the market and its dynamics that will show the impact of this decision.