Albania reduces poverty gap with EU as rates drop

TIRANA, Dec. 24, 2024 — Albania is closing the gap with European Union averages in its fight against poverty. The country’s poverty rate dropped to 19.7% in 2023, down from 24.1% in 2022, according to the European Statistical Agency.

This decline translates to approximately 545,400 Albanians at risk of poverty, a significant reduction from the 576,316 recorded last year.

Although progress has been made, Albania’s poverty rate is still higher than the EU average of 16.2%, affecting around 71.7 million people across the bloc. Latvia and Estonia remain the most affected, with 22.5% of their populations at risk.

In contrast, nations like the Czech Republic (9.8%), Norway (11.5%), Denmark (11.8%), and Ireland (12%) boast the lowest poverty rates in Europe.

Economic analysts highlight that Albania’s gap with the EU average is shrinking. In 2022, the difference stood at 4.1 percentage points. The current reduction reflects growing efforts to align with European standards, a cornerstone of Albania’s EU membership aspirations.

Regional disparities remain, with countries such as Romania, Turkey, Lithuania, Bulgaria, and Spain grappling with relatively high poverty risks.

Albania’s progress is encouraging, but sustaining this momentum will require consistent growth, social reforms, and targeted policies to address income inequality.