Book: Average Slovenian Wage Buys Much Less Than German Wage
The average Slovenian wage buys only 51% of an average German wage and 59% of an average Italian wage, a publication by researchers of the Institute for Economic Diagnostics at the Maribor Faculty of Business and Economics says.
In a book launched on Tuesday, the researchers say they found that Slovenians are paid significantly less than Germans and Italians but are forced to pay only a little less for their goods and services.
According to the book, the convergence of Slovenian prices to those of Germany and Italy is much greater than the convergence of wages.
While prices of goods do not differ much among the countries, prices of services in Slovenia are still cheaper than in the two reference countries, predominantly because of lower wages.
According to the publication "Purchasing Power of the Euro in Slovenia, Germany and Italy", prices in Slovenia are 18% lower than in Germany and 15% lower than in Italy on average.
One euro buys 22% more in Slovenia than in German and 16% more than in Italy, the authors found.
However, Slovenian wages lag well below those of German and Italian wages, making the purchasing power of an average earner in Slovenia much lower than that of average earners in Germany and Italy, the book says.
The average net wage in Slovenia stood at EUR 777.4 in October 2006.
More articles from this issue:
Archive
|