Albanian Cities That Have Better Citizens

Do you know what cities are, where individuals can save more and have more assets as deposits in second-level banks, in relation to the respective population?

The Monitor has processed the Bank of Albania's data on county deposits -- solely of individuals -- in relation to the respective population, published by INSTAT. Savings data is available for Tirana, Durres, Vlora, Elbasan, Fieri, Korca, Shkodra, Lezha.

The city that leads is Tirana. Individuals in the capital have a total of about 319 billion dollars in currency money, according to data from the Bank of Albania, or 67% of the total deposits Tirana holds (other share is owned by businesses and institutions). With a population of 862 thousand, according to INSTAT, each Tirana resident has a bank savings of 37 thousand. Tirana is also the city that has the highest per capita income rate in the country, according to INSTAT, at 69,000 dollars a year, being in line with the first country in terms of per capita savings.

Second place for per capita savings, with $36.1, about the size of the capital, is Vlora, the city associated with immigration, but it is also the basis of illegal traffics, a portion of each's income stored as savings. Unlike Tirana, which is “justify” savings with high per capita income cannot be said the same for Vlora. This indicator for the southern coastal town, according to INSTAT, is 431 thousand dollars per capita annually, or 63% The capital of the GDP and Vlora ranked fifth in per capita income after Tirana, Fier, Gjirokastra, Durres, under Albania's 496m average.

The third in the ranking are the residents of Durres, where immigration plays an important role. Dursacian citizens have about 26,000 deposits per capita.

The four are the cashiers, (22.6 thousand dollars per capita), known for their union, and we manage money better, setting aside some.

Next come Corca and Elbasan, with $22 and $13,000 per capita respectively. Interestingly, Fieri, who is second in income per capita, has very low savings of $18,000 per capita, in an indicator that large investments in the heavy industry (diesow) in this city, although increasing its domestic production, fail to translate into more welfare and savings for the residents themselves.

In all, the deposits of individuals at banks and other financial institutions in Albania were 917 billion dollars at the end of the third quarter (67 billion euros), or 83% of total deposits in the country.

In recent years, personal deposits have been reduced because of unfavourable interest rates. Compared to November 2011, residential savings have dropped by 94 billion dollars, or nearly $690m. Despite the decline, Albania continues to be one of the developing countries with the highest savings rate in relation to the Bruto Interior Production (currently 66.5% of GDP). Half the savings are in the common currency.

Bulgaria has deposits of as much as 68% of GDP, Croatia at 64% and Montenegro with 60%. In other countries, population savings in banks are minimal, with Kosovo at the lowest, with 32% of GDP, Serbia with 42%, Bosnia and Herzegovina with 50%.

A little higher is Slovenia at 53%. Average low- and medium-income countries, according to the World Bank, is about 43% GDP and developing Europe have 41%. For the level of deposits in proportion to GDP, Albania also approaches developed Western European countries, such as Italy and France, with this indicator of between 70 and 80% (Italia is 77%). Greeks are more Kurdish, with about 93% deposits in proportion to GDP.