Macedonia lags in European buying power

EU

The purchasing power of Macedonian citizens is just 40% of the European Union average, according to data.

The research by the Statistical Office of the European Communities, Eurostat represents a comparative analysis done in EU member states as well as in Balkan countries that are either candidate states or on their way to accession. People in EU member state Bulgaria have even an lower buying power just 38% of the EU average, while Serbians have greater purchasing power with 45%. The other Balkan states, Bosnia and Herzegovina and Albania stand at 48%. Montenegro stands at 50%.

Greece, which has been the Balkans longest EU member has reached 86% of the average. The purchasing power represents the value of money, as measured by the quantity and quality of products and services it can buy. It takes it account that prices in the Balkans are significantly lower than in western EU member states.

According to the statistics, Macedonia is among the countries with the lowest consumer prices, only 55% of the European average. Croatia is the most expensive country in the Balkans with 87%. Macedonians pay the lower communal taxes in the whole of Europe, the data shows.

Eurostat is the statistical agency of the European Commission. It produces data for the European Union and harmonizes statistical methods across member states. (BalkanInsight)

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