Albania has the highest rate of poverty in the region, with almost 20% of the population being affected, according to data from the World Bank published this week.
Kosovo came second with 17.6%, North Macedonia with 16.4%, and Serbia with 10%. For a person to be considered as living in poverty, they must be living on less than $5.50 a day.
The number may be high, but it has decreased since the year of the pandemic, when the rate was almost a third of the population. Since then, it has reduced some nine percentage points to 19.4%.
The World Bank states that rising prices and inflation are contributing to the issue, particularly in relation to food as this accounts for the largest expenditure for local families.
According to INSTAT, almost 42% of Albanians’ income goes on food with 10% on housing, energy, and water, and 7% on furniture and clothing.
