The Minimum Vital Income Determination: The Importance and the Effects on the Albanian Economy
The Minimum Vital Income Determination: The Importance and the Effects on the Albanian Economy

Author(s): Sorina Koti
Subject(s): Social Sciences
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Minimum vital income; Wage; Law; Poverty
Summary/Abstract: The paper aims to analyze and determine the factors that affect the minimum vital income in Albania, as well as the importance in the social-economy life. The paper will conduct research on different methods of determining the minimum vital income and the formula for calculating it. The minimum vital income is a legal norm that originates from the constitutional rights of citizens. In the formulation of the vital minimum, the objective of ensuring the well-being of the individual must be taken into consideration and evaluated following the concept of human dignity provided for in the Constitution, in such a way that the individual, in addition to a dignified life, is given access to at least minimum in cultural, social and political life. Hence, the paper will analyze the main indicators; it will give a comparison between the minimum vital income and wage, as well as, it will determine the value of the minimum vital income for Albania, based on the chosen formula (research on international literature and institutions). At the end, the research will conclude with the importance of setting a minimum vital income in Albania, as a way for overcoming the poverty level.

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