Average net wage drop in Montenegro decelerates to 5.7% y/y in September 2011.

By bne IntelliNews October 19, 2011
The average net salary dropped to EUR 477 in September, down by 0.8% y/y, according to information published by the country's statistical office (Monstat). The net salary decreases for a second month in a roll although the drop decelerated from 5.8% y/y on August. In September, the highest annual increases were registered in the state administration and social insurance branches, hotels and restaurants, and fishing where net wages rose by 11.7%, 11.3% and 10.9%, respectively. Net salaries decreased the most in mining and quarrying (8.8% y/y), financial intermediary (8.7% y/y) and transport, storage and communications (5.7% y/y). Gross earnings dropped by 0.7% y/y in September, down from the 5.7% annual decrease in the previous month. According to our calculations, the average net wage fell by 4.1% y/y in real terms, as compared to the 9% y/y decline a in August.

Average net wage drop in Montenegro decelerates to 5.7% y/y in September 2011.

Related Articles

Montenegro says to borrow EUR 220mn this year, down 12% than planned.

Montenegro's government said it decided on Thursday, March 21, to reduce to EUR 220mn from EUR 250mn the amount it plans to borrow this year for financing its budget spending and servicing ... more

Montenegro reports increased budget revenue in Q1.

Montenegro's budget revenue increased by 11.5% y/y to EUR 195mn in the period from January 1 to March 20 due to higher profit tax, social contributions and VAT inflows, news service ... more

Mobile phone penetration in Montenegro drops to 155.5% in Feb 2013.

Mobile phone penetration in Montenegro dropped to 155.5% at the end of February 2013, from 159.81% at end-Dec 2012 and 163.66% a year earlier, the latest figures of the telecommunications agency ... more

Dismiss