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How will the salary increase affect inflation?/ Sejko speaks, appeal to businesses and the administration

2023-05-31 17:53:00, Ekonomi CNA
How will the salary increase affect inflation?/ Sejko speaks, appeal to
Governor of the Bank of Albania, Gent Sejko in the Economy Commission

The governor of the Bank of Albania, Gent Sejko, spoke at the Economy Committee about the increase in the salaries of the administration.

Sejko sees the salary increase as positive, as he declared that consumption will also increase, which will also affect inflation.

"Increasing wages leads to increased consumption and increased consumption leads to inflation. How much the salary increase will affect inflation is another matter, but of course there will be an increase in inflation", he said.

Meanwhile, the Governor requested that businesses and the administration continue to increase productivity in order to reduce inflation.

"In order to be more competitive, we have a big challenge, which is immigration, and one of the elements is the increase in wages. Of course, wage growth must be parallel to productivity. If there was an increase in wages without an increase in productivity, then the impact on inflation would be higher. If the salary increase will be accompanied by an increase in productivity, with investments in technology and human resources, inflation will be lower", emphasized Sejko./ CNA.al

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